Phoenix Light Rail a Draw for Investors

Two years before the light-rail system opens, private investors are starting to pump more than $1 billion into new developments near the rail stations.

Published: 30-Dec-2006

PHOENIX — Two years before the light-rail system opens, private investors are starting to pump more than $1 billion into new developments near the rail stations.

The investments promise to reshape key corners and neighborhoods along the 20-mile route, an infusion that is typical of light-rail systems but is occurring earlier in the valley than in other cities.

"I don't think you've seen this level of public and private investment anywhere else in the country before a light-rail line even opens," said Bo Martinez, Phoenix's economic development manager for light rail.

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