Phoenix is counting on a new light rail system to revive one of the city's long-ignored commercial corridors when trains start operation at the end of the year.
"Phoenix Mayor Phil Gordon calls it the 'opportunity corridor,' and in 2005, he began calling for a revitalization of the area between the Salt River and Van Buren Street and from the Capitol complex east to the Tempe city line."
"Progress has been slow, and the meltdown of the financial markets has dried up capital for some promised private-sector improvements. Existing businesses have suffered, too, with light-rail construction shutting down some mom-and-pop shops and crippling others."
"But Gordon maintains the problems are not permanent."
"Light rail will bring in new customers to shops; blighted areas are already disappearing; home prices in the area have increased, even against the slumping market."
FULL STORY: Light rail may revive Washington Street corridor
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