About a month ago the mayor celebrated the launch of the new Phoenix Light Rail by taking a ride in one of the cars as far south as McDowell Road. It was mostly a PR media event but that’s why it’s noteworthy.
For over a year we have been stating that despite whether or not the light rail is viable or worthy of our tax dollars there is zero question that come December it will get major media attention. The entire light rail route area will go from a depressed and shunned area to a local and national media darling. Escalating oil prices, fear of global warming, renewed interest in the environment, waning interest in sub-urban sprawl, not to mention the investment of $1.5 billion tax dollars will make the first light rail line in the Phoenix area very news worthy.
We don’t believe that condo and home prices along the light rail will explode as a result but we certainly believe that the light rail will contribute to the stabilizig of prices.
Clearly we’ll know a lot more in less than five months.
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