The final leg of the freeway, which runs between downtown Phoenix and north to the Pima Freeway in north Phoenix, will be opened at the end of 2003 rather than mid-2005.
A $22-million loan from the State Infrastructure Bank to the Arizona Department of Transportation has sped up construction on the last leg, which runs between Union Hills Drive and the Pima Freeway. ADOT will repay the loan, along with about $1 million in interest, from Maricopa County's half-cent freeway sales tax.
As its progresses further and further north, the Squaw Peak Parkway has been opening up additional areas to new development in north Phoenix.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
