Scottsdale Arizona

REINVESTMENT IN SOUTHERN AREA OF SCOTTSDALE TOPS $3 BILLION; 85% FROM PRIVATE SECTOR. The total amount of new reinvestment in the area south of Chaparral Road in Scottsdale has topped $3.1 billion, according to a semiannual assessment compiled by the Economic Vitality Department. The assessment of development projects in the area also found that new private investment accounts for about 85 percent of the total, signaling continuing confidence in the area among investors. The assessment includes projects that have been planned, begun or completed since 2003. More than $667 million worth of projects has been completed and $1.6 billion is underway. About $786 million is on the drawing boards, and those projects are likely to be built within the next three years.

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