• Home
  • Blog
  • Contact
  • Facebook
  • Twitter
  • Google +
  • Flickr
  • You Tube
  • Nick Bastian

Rail Life

Phoenix Light Rail News and Information

  • About RailLife
  • Events
  • Homes Near Light Rail
  • Phoenix Light Rail Map
You are here: Home / Phoenix Light Rail / $6 Billion and our .02 Cents

$6 Billion and our .02 Cents

June 22, 2008 by Nick Bastian 1 Comment

As we get closer to the big day in December when the light rail trains begin to carry passengers in Phoenix, Tempe and Mesa, we are seeing a lot more media coverage. Recently, there was a story in the AZ Republic talking about the development along the 20 mile route and the amount of public and private development created since 2004. The figure; SIX Billion dollars.
According to the article.. “The price tag includes projects already completed, developments under construction and announced projects within a half-mile radius of the line that officials from those cities say will likely come to fruition, according to Ben Limmer, a Metro light rail planner.”
They also had a breakdown (as provided by Metro) that mentioned the following. (yes, we know the Phoenix real estate market is different today than it was a few years ago)

$6 billion Total value of public and private investment in transit oriented projects along the light-rail line since 2004. 15,000 Approximate number of residential units that are planned, under construction or already completed along light rail since 2004. 7 million square feet Amount of commercial space that is planned, under construction or completed close to light rail since 2004. 1800 Approximate number of hotel rooms that are planned, under construction or completed along the line.

While that is a lot of cabbage, it is important to note (also mentioned in the article) that much of this development is in areas that would have built even without light rail. However, there is no doubt that many projects have been put in the works because of their proximity to the line. You see, rail is more appealing to many because it is more tangible than say, a bus route. ie: The stops create more opportunity to build community, to build small business etc. The timing for light rail in Arizona couldn’t get much better. As gas prices continue to climb, people are embracing public transportation more than ever. While the “cost” of the system has been reported as $1.4 Billion, there are many factors to consider when evaluating future expansion and success of the overall project. Time will tell how many people will ride, how many will be occasional users and how many will use it as an effective way to get to school and work every day.
Following the project a little more closely than the average person, I have been amazed at the amount of work, planning and design that has gone in to bringing light rail to Arizona. I get the feeling that many people believe someone throws down a few tracks, buys a few “electric buses” and bam, we have a new transportation system. This just isn’t the case.. Come December though, I bet Metro hopes to make everything look “easy.”

 

Filed Under: Phoenix Light Rail Tagged With: Homes Near Light Rail, Mesa Light Rail, Metro Light Rail, Phoenix Light Rail, Tempe Light Rail, Tempe real estate

About Nick Bastian

Nick Bastian is a 31 year veteran of the real estate industry and can be reached at 602-803-6425. You'll also find him sharing real estate info on his web site and hanging out onTwitter.
Family man, lover of life, maker of friends. A bit of a geek, long time Tempe real estate guy just havin' some fun. What's your story?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RailLife

Thanks for visiting RailLife.com! We want to be your resource for all that is light rail in Arizona. Here, we share information about “life along the line.” Feel free to cruise around and to bookmark the site as information is added or changed often!

RailLife Uber Code

Good for $20 off your first ride with Uber! Use Promo code: RAILLIFE OR click here to get an Uber account: RailLife Sign up code

Search RailLife

Search for Homes

Looking for a home? Search NickBastian.com for your future home.

Homes Near Light Rail

42 Listings
331 W EDGEMONT Avenue, Phoenix, AZ 85003

$919,000 331 W EDGEMONT Avenue
Phoenix, AZ 85003

419 E 3RD Place, Mesa, AZ 85203

$332,000 419 E 3RD Place
Mesa, AZ 85203

54 W LYNWOOD Street, Phoenix, AZ 85003

$1,475,000 54 W LYNWOOD Street
Phoenix, AZ 85003

694 W COLTER Street, Phoenix, AZ 85013

$699,900 694 W COLTER Street
Phoenix, AZ 85013

114 W Windsor Ave, Phoenix AZ 85003

$759,900 114 W WINDSOR Avenue
Phoenix, AZ 85003

1422 W ORANGE Drive, Phoenix, AZ 85013

$500,000 1422 W ORANGE Drive
Phoenix, AZ 85013

previous next

MLS IDX Listing Disclosure © 2023

Copyright 2023 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.

Lakeside Living

6 Listings
420 W 1ST Street, 328, Tempe, AZ 85281

$399,900 420 W 1ST Street, 328
Tempe, AZ 85281

945 E PLAYA DEL NORTE Drive, 4009, Tempe, AZ 85281

$489,000 945 E PLAYA DEL NORTE Drive, 4009
Tempe, AZ 85281

435 W RIO SALADO Parkway, 306, Tempe, AZ 85281

$469,999 435 W RIO SALADO Parkway, 306
Tempe, AZ 85281

425 W RIO SALADO Parkway, 103, Tempe, AZ 85281

$459,000 425 W RIO SALADO Parkway, 103
Tempe, AZ 85281

140 E RIO SALADO Parkway, 106, Tempe, AZ 85281

$1,197,000 140 E RIO SALADO Parkway, 106
Tempe, AZ 85281

140 E RIO SALADO Parkway, 312, Tempe, AZ 85281

$735,000 140 E RIO SALADO Parkway, 312
Tempe, AZ 85281

previous next

MLS IDX Listing Disclosure © 2023

Copyright 2023 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.

RailLife Posts

Looking For A REALTOR To Rock The Rail Life

Nowhere To Eat In Downtown Mesa

Could Coyotes Help Expand Tempe Streetcar?

Scott Smith Remaining as Valley Metro CEO

Banta Lawyers Up – Sues Valley Metro for $1.65 Million

© 2023 · RailLife · Developed by Marketing Press