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Phoenix recently surpassed Philadelphia to become the nation’s 5th largest city. Last year alone economic growth in the metro area grew by $5.2 billion. Downtown Phoenix has exploded with development and rising housing costs are reshaping neighborhoods all around it. So, how is this shifting landscape changing the face of the Valley today?
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An area covering less than two square miles in downtown Phoenix has been attracting major money. According to the Downtown Phoenix Partnership Inc., more than $5 billion in public and private dollars has poured into downtown since 2005, much of it going to new housing.
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Home prices are on the rise across Arizona. Since 2011 property values have increased by roughly 83 percent in Maricopa County alone. On the surface, these numbers may seem like simple averages. But rising prices can often spell changes in a community.
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When Valley leaders talk about light rail, they often speak in glowing terms: how it spurs economic development and increases property values. But, the reception is less enthusiastic among some residents, especially in one part of Phoenix.
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Throughout our “New Neighbors” series on the ways in which communities are shifting in the Valley, we’ve taken a look at many of the areas that have changed most in the years since the recession hit.
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As we’ve looked at the shifting landscape of the post-Recession Valley in our “New Neighbors” project a lot of what we’ve heard has focused around the question of displacement. As prices go up are people being pushed out? Are we sacrificing diversity in the name of development? In short, are we gentrifying?
Reporting: Lauren Gilger, Carrie Jung, Christina Estes
Senior producer: Sarah Ventre
Editor: Al Macias
Digital: Jackie Hai, Jean Clare Sarmiento, Sky Schaudt, Kaleigh Shufeldt
Graphic design: Ambar Favela