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Take Central Avenue and 1st Avenue, from Roosevelt Street south to Civic Space Park, and turn it into Downtown's entertainment destination. There's already a few clubs along Central, but turn both those streets into two cooridors of walkable restaurants, clubs, bars, and music venues. (also, as someone else has suggested turn the westward ho back into a hotel) Central and First Avenue would be perfect for this kind of development because the light rail already travels both streets, making it easily accessible from public transportation AND everyone who rode the light rail would ride right through Phoenix's premiere entertainment destination.

Also, along both these Avenues there are empty lots and parking lots, which would be used for new construction, and older buildings which would be great for adaptive reuse (example: the circles building). Meaning this district would blend older architecture with modern architecture, creating a unique experience in Phoenix.

This entertainment district would also serve as the entrance point to downtown for all those coming south on central avenue. As you head south over the Hance park bridge, you would drive past the light rail station into a street full of lights, pedestrians, and energy. It would make a great first impression on people headed downtown. It would also hopefully encourage more use of civic space park, as more people would be walking around that area.