Victor’s Insider Scoop on Why Light Rail Continues to Motivate Developers …
October 1st, 2008 | top of page
I previously posited on why light rail was having a positive effect on commercial development in metro Phoenix. That blog referenced three examples—two in Tempe and one in Phoenix. My current newsletter has 7 articles referencing no fewer than 35 projects in Tempe, 9 in Phoenix, and 1 in Mesa all with the light rail advantage. What’s amazing is that of the 59 total new articles in this month’s newsletter more than half of them have a negative headline and accompanying negative storyline citing foreclosures, a glut of space, falling prices, job losses, bankruptcies, slowdowns, rising vacancies, etc. Yet here are 45 projects all with a positive story to tell and one common thread: light rail.
So what does this mean for you the commercial real estate developer? If you take a drive up Central Avenue from downtown Phoenix you can still find vacant lots along the light rail line all the way up to Camelback Road. If you drive east on Washington from downtown Phoenix there are properties suitable for redevelopment. Downtown Tempe might not have vacant lots but there are opportunities for assemblages. Downtown Tempe to Mesa along Apache Blvd. probably offers the most opportunities for redevelopment along a route that has been neglected since the 1970s when the Superstition Freeway usurped this former highway frontage route.
If you have development aspirations but don’t have any eyes or ears in Phoenix call me. I can help.
Dedicated To Multiplying Your Income
PS – If you are ready to begin to thrive again by getting off the sidelines and putting your money to work give me a call at 602-320-6200. I see lots of deals and may have just what you are looking for.