Tech Center Boosts Scottsdale Real Estate Market

Several years ago, Scottsdale real estate agents and citizens gave up all hope for South Scottsdale, but the arrival of the new Tech Center is giving local officials and residents new hope for the city and the South Scottsdale real estate market.

The $300 million ASU Scottsdale Center for New Technology and Innovation is scheduled to be built early next year "on 37 acres of the Los Angeles Mall site (at Scottsdale and McDowell roads)."

The Tech Center will bring new businesses and residents to the area, so the city has had to make some major changes in order to make the area an appealing place to purchase commercial and residential Scottsdale real estate. The city has already spent $1 billion on internal improvement projects that include "improved parking garages, roads, signage ad other infrastructure improvements."

The center is expected to produce 4,000 high-paying jobs, and while many of the positions will be filled by workers already residing in Scottsdale, outside workers will spur the South Scottsdale Real Estate market.