Quote:
Originally Posted by Cirrus
Yeah. It's that Phoenix has a much much higher percentage of retired people than normal cities, and a vastly tinier office downtown. Phoenix, because of its nature as a city, doesn't face nearly the commute pressure that most other cities of comparable size face.
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Eh, that's a common misperception. If we erased 75% of the retirees, Phoenix would still be the 14th or 15th largest MSA. The biggest retirement area is waay to the NW between the 101 and the new 303. The 'action' is east of I-17. A lot of people move to the Valley 'towards' retirement but bring their skills with them. For example I know one couple who sold their catering business in NJ for $4 million, sold their house and moved to Scottsdale and opened up an Italian restaurant.
Downtown Phoenix has life

but office space is not the focus. They did however build 3 office towers (20-35 stories) prior to the recession. But now it's all about residential including 19- and 30-story towers under construction with a 29 story getting close. In addition ASU now has a downtown satellite campus of 12,000 including their new Law School named after Sandra Day O'Connor, the 1st female supreme court justice. It's right on the light rail line that runs right to ASU's main campus in Tempe. Additionally U of A has placed a satellite med school in downtown Phx.
But when it comes to urban office space Tempe has been the hot spot over the last decade including State Farm's 1.6 million S.F. mid-rise campus. Downtown Phx also shares office space with Mid-Town which is on the other side (north) of I-10. 15 minutes east along Camelback Rd, the Biltmore area mimics Cherry Creek and 15 more minutes east is Old Town Scottsdale where a lot of back-office tech has located. Drive north along Scottsdale Rd and you'll see beautiful, classy mid-rise office buildings. This area is filled with real estate, finance/trust, law and accounting firms.
Scottsdale Rd, Tempe and downtown/mid-town Phoenix form what I call an urban triangle.
EDIT: I almost forgot that I saw where Microsoft bought 332 acres in Loudoun Co. VA. That's your neck of the woods, right?