30 July 2015

Valley Metro Light Rail > July 27,2015 Economic Development Along The Line


Everybody Benefits from Public Transportation
PHOENIX, AZ – From restaurants to residential development, more than $8.2 billion in private and public capital investment has been built near the initial 20-miles of light rail that extends from Phoenix and Tempe into Mesa
See more details below in this post with a link to look at the whole report - with some great graphics to put facts and numbers into prospective.
Tuesday on Phoenix kicked off a multiple-day promotion campaign for the public about the economic and quality-of-life benefits of public transit, 

Some details: Economic Development along 20-Mile Light Rail Number of Projects:  204 
  • Capital Investment – Private:  $5,989,639,864
  • Capital Investment – Public:  $2,241,737,632 
  • Total Investment:  $8,231,377,496 
  • SF Commercial/Office: 10,327,168 
  • SF Public:  938,737 
  • SF Education:  4,698,902 
  • SF Residential:  5,666,863
  •  # Residential Units:  15,328 
  • # Affordable Units: 1,300 
  • # Hotel Rooms:  2,948
 - See more at: http://www.valleymetro.org/pressreleases/detail/everybody-benefits-from-public-transportation#sthash.XKFddNkh.dpuf

Economic development within one-half mile of the system has been stimulated by ridership that has exceeded original projections. 

Valley Metro began compiling development activity since construction started in 2005 as part of an economic development database. 

  • The original $7 billion investment had included projects that were proposed. 
  • The updated $8.2 billion includes projects completed or under construction. 

With the 3.1-mile Central Mesa Extension set to open in less than four weeks, there is an added $90 million in private and public development that occurred since construction began in June 2012.
 - See more at: http://www.valleymetro.org/pressreleases/detail/everybody-benefits-from-public-transportation#sthash.XKFddNkh.dpuf

News and opinion on an
American Fundamental - our infrastructure
- See more at: http://tinewsdaily.com/#sthash.XJda4JHd.dpuf

Both the mayors of Phoenix and Tempe had good things to say, according to an article
Phoenix-Mesa light rail line spurring local investment 
by Transportation Infrastructure News Daily Reports | Wednesday, Jul 29, 2015 @ 7:07pm
“Big things are happening in Phoenix because of light rail, and big things are going to continue to happen,” Phoenix Mayor Greg Stanton said. “Light rail has been transformative for our downtown and our economy. With it we’ve linked jobs, education, arts and culture in a way that would not have been possible otherwise.”
“Investment in transit does more than improve neighborhoods; it improves lives,” Tempe Mayor Mark Mitchell said. “More than $3.4 billion has been invested in Tempe around light rail since construction began in 2005. Everyone benefits from public transportation.” - See more at: http://tinewsdaily.com/stories/510630735-phoenix-mesa-light-rail-line-spurring-local-investment#sthash.CTxSZ80h.dpuf

The cities of Phoenix, Tempe and Mesa have taken action to encourage development near the Valley Metro light rail line. There has been a substantial increase in development activity that has occurred or been proposed since the opening of the 20-mile starter line in December 2008.
Learn more about economic development and read the July 2015 report with this link >
Valley Metro Economic Development Brochure 

Future Transit Corridors 
The Maricopa Association of Governments’ Regional Transportation Plan calls for 46 additional miles of light rail/high capacity transit corridor in addition to the initial 20-mile line. The 66-miles of transit improvements will be built using local, regional and federal funds. 
Seven light rail extensions are planned or are under construction that will expand the system by 2034. 
Valley Metro also offers transit options including alternative transportation programs for seniors and people with disabilities, commuter vanpools, online carpool matching, bus trip mapping, bicycle safety and telework assistance.
 - See more at: http://www.valleymetro.org/pressreleases/detail/everybody-benefits-from-public-transportation#sthash.XKFddNkh.dpuf

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