The Arizona Department of Transportation (ADOT) has officially approved a long-awaited improvement to State Route 24 (SR 24), the main freeway linking Queen Creek and San Tan Valley to metro Phoenix. Here’s what this means for landlords and investors:
Project Overview:
- Widening SR 24 to four lanes in each direction between Loop 202 and Williams Field Road.
- Expanding to three lanes each way from Williams Field Road to Ironwood Drive.
- Includes new bridges at key intersections (Williams Field, Crismon, Signal Butte, Meridian Roads).
- Construction begins late 2029 or 2030; cost exceeds $152 million.
Why It Matters for Real Estate Investors:
- More access = more value: Easier commutes and less congestion could increase property values.
- Traffic relief: Helps prevent overflow onto city streets, preserving neighborhood livability.
- Future growth: With daily use already at 60,000+ drivers and rising, infrastructure boosts make southeast Valley more viable for SFR and BTR projects.
Looking Ahead:
- A possible future extension to U.S. 60 in Pinal County is under consideration but not yet funded or scheduled.