Tempe Town Lake is an extraordinary place for recreation and relaxation. It's also an economic driver for the entire Greater Phoenix Metropolitan Area with an estimated value of more than $2 billion during the last 20 years. More than 13.8 million square feet of development has been built at Tempe Town Lake, with another 2.7 million under construction.
There are more than 42,000 jobs and 30,000 residents within a mile of Town Lake. More than 40 special events happen each year, providing not only fantastic entertainment for everyone, but also tourism revenue.
Here's how the $2 billion value of Town Lake breaks out:
Development: $1.5 billion
Tourism: $500 million
Sales tax: $50 million
Community Facilities District: $8 million
Tempe Center for the Arts: $7.5 million
Total: More than $2 billion
Learn more about the finances of the lake with the below links:
Sources: City of Tempe Community Development, City of Tempe Internal Services, Tempe Center for the Arts, Tempe Tourism Office.
Photo: Alex Harris