Quality of life is fine, but what effect does this have on commercial real estate? Blaziek is upfront by saying that he hopes to see developers building quality hotels in downtown El Paso in proximity to the city's 225,000-square-foot convention center. He also wants to see commercial attractions, such as amusement parks and water parks. Da Prato says quality of life initiatives shows El Paso as pro-business, meaning CRE developers are more likely to be receptive to the environment.

There is also hope that the triple-A baseball stadium will bring its own share of commercial real estate development. Though the jury is out on the direct connection between sports arenas and commercial real estate building, Blaziek points out that the ballpark, which will be adjacent to the convention center, offers something else that's just as important. "I can lure conventions and meeting planners who believe we roll up the streets at 5 p.m., and point out that there are 72 home games at this ballpark, and that there's plenty going on after 5 p.m.," he remarks.

The experts are unanimous in stating, however, that the bonds passage isn't geared toward jump-starting El Paso commercial real estate development. That's been going on for awhile, both in the CBD and the outskirts. Giese explains that Union Plaza's renovation project, which turned the historic relic into an entertainment area, and the renovation of Anson Mills Building, an office building at 303 N. Oregon St. have worked out fairly well. A new CVS is moving into the CBD, El Paso's first one. Giese points out that, on the industrial side, other factors, such as proximity to a booming Mexico, are driving interest in development and leasing.

"Texas, as a whole, has been performing well, so well that major core markets have been picked over from an investment perspective," Giese says. As a result investors are taking a serious look at El Paso, partly because it's a city in Texas and partly because it sits right on the Mexican border. "We've seen more investors becoming knowledgeable about this market; a market that wouldn't have been on their radar screens three years ago," Giese observes.

Da Prato comments that, as important an influx of more than half a billion dollars into infrastructure and stadiums might be, just as important is the psychological impact of overwhelming voter support for the packages. "What this says to the rest of the world is that El Paso is willing to spend money on itself to get to that next level and the voters are on board with it," he comments.