Downtown on Top: Light Rail

 
There was one reason Phoenix developer Tim Sprague and his business partner decided to purchase that plot of land just South of Hance Park more than a decade ago: Light rail.
 
They had seen what the light rail installation had done to revitalize Portland, Oregon – “it was transformative,” he said – and believed it could do the same here.
 
So, when they heard that Phoenix was actually getting a light rail system in 2003, they put in a bid on the plot of land.
 
When they told their real estate buddies they were doing a project downtown, “They all said, ‘Are you crazy?’” Sprague said.
 
Sprague also told ABC15 that a lot of the people moving downtown and buying his condos are empty nesters. Click here to watch our interview with him.
 
But they turned out to be trail blazers.
 
Construction of the light rail was tough on many businesses along the line, but now it’s paying long term dividends, according to Stanton.
 
“I’m seeing it pay off; I think the community is seeing it pay off,” he said.
 
Development driven by the light rail tops $8.2 billion, according to Valley Metro, with another $346 million in commercial and residential building planned along the line.
 
“Many people are choosing to live along the light rail line,” Stanton said. “Many of the best employers are choosing to locate along the light rail line.”
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