Since 2001, when the tax for the new rail line was approved, there has been about $5 billion in public and private investment — $3.5 billion of it private — around the site of the light rail, the city’s development agency spokesman said. In some part thanks to the new system, downtown Phoenix appears to be one of the few bright spots in an otherwise economically pummeled city, which like the rest of Arizona has suffered under the crushing slide of the state’s economy,” wrote Steinhauer. Phoenix’s downtown saw its revenues rise 13 percent in first quarter 2009 alone. This compares to a 16 percent revenue drop for the remainder of the city examiner/article/light-rail-brings-wave-of-downtown-phoenix-development-many-say-are-there-implications-for-fresno
Posted on: Sun, 22 Sep 2013 02:38:26 +0000