Think of this as a before photo.The SRP (Salt River Project) has announced that they are putting an eight mile  biking and walking path along the Grand Canal from Tempe to Downtown Phoenix. Last week I walked the three miles from 16th Street at Indian School southeast to 28th Street at Oak. It was a pleasant but not attractive walk as you can see from the shopping cart collage I made above.

I have been predicting that the canals are an unrecognized Arizona treasure. They sure have a long way to go. But water attracts people and we can see the future at the Waterfront in Scottsdale.

Property that borders the canals should sell at a premium. There is an arbitrage opportunity here.