NPR Looks at Downtown Phoenix’s Vacant lots
Downtown Phoenix is full of dirt lots. At the peak of the real estate bubble, an acre was selling for about $90 a square foot. Investors and developers thought the city was finally about to grow up. Now, the same land sells for $9 a square foot.
Plans to build high-rise offices and condos are years, if not decades away.
Listen to the story here: Phoenix Officials Face Development Dilemma