I forgot to address the second part of your question. I'm not convinced that property values will be affected all that much by the rennovation, simply because the Arcadia area is already home to some very high end Real Estate (Wayne Gretzky, anyone?). The area just south of Arcadia (Baja Arcadia, if you will) might get a slight bounce, but I doubt it would be overly dramatic. It was necessary in my opinion to remain an area attractive to families, but the bar is just so high alreafy that I don't see prices being drastically affected. When Cochise Elementary in McCormick Ranch was rebuilt several years ago, I was very interested in the affect it would have on values. Because the area was already highly sought-after, it did not seem to have much impact. It helps keep the area relevant to families, however. Community preventative maintenance.

Sunny, below is the link to the Arcadia High website that outlines the construction schedule. Looks like August of '08 before the gymnasium and other finishing touches are scheduled for completion.

I know the media communications instructor at Arcadia High School. Last time I talked to him the new media center should be completed and open for business with the current school year. As for the remander of the remodeling, it will be a little while.

School bond programs and remodeling in general usually have no impact on property values unless a high number of homeowners or potential homeowners have high school age children. The location of homes in the Arcadia area makes it a desirable area. If you want to see all of the homes for sale "on a map" in the Arcadia area or any other area of town check out this website: http://www.480forsale.com I hope this helps.

Arcadia High School is a public high school located in Phoenix, Arizona. The school enrolls 1,380 who primarily come from feeder schools in the Scottsdale Unified School District. Arcadia is currently undergoing significant renovation that began in the summer of 2005.

Since the 2003 school year, Arcadia H.S. has met No Child Left Behind standards, and is labeled "Excelling" by AZ LEARNS, Arizona's standards measurement. In 2005, the school produced three National Merit Semi-Finalists. 92% of students of the graduating class of 2005 continued their education, and in 2003 students were awarded a combined $3.5 million in scholarship money. Notable alumni include NASA astronaut Bill Shepherd (class of '67), and though he did not graduate from the school, director Steven Spielberg attended.

Renovation
The Orcutt/Winslow Partnership created the new design of the school. The construction is set to take place in three stages over three years by the contractor DL Withers Construction. The price for the school's improvement is set at $127 by a Guaranteed Maximum Price plan.

Here is a link to where I got that information:

http://en.wikipedia.org/wiki/Arcadia_High_School