Greektown (mortgage, townhouses, construction)

[barante]

We went to see Highlandtown's fabulous new public library, then negotiated through the Easter Avenue overpass construction to Greektown.
For those looking for houses, Greektown is an intriguing possibility. Speculation has driven prices up quite a bit but what goes up comes down, as we'll see over the next few months.
The Greektown restaurant/retail district along Eastern Avenue is suffering, as it has been for years. Oldtime favorites such as the Ikaros restaurant thrive, but there are lots of vacancies. It's doubtful that they'll be filled by Greek businesses because few Greek-descended young people want to live there. Central Americans have been moving in, but that may be a temporary phase.
Anyway, on Ponca, new garage townhouses, starting at $310,000 according to the sign, are going up. Wait until next spring and those prices may come down.
First Mariner bank owner Ed Hale wants to build hundreds of new units on the industrial waterfront nearby. But I suspect that everything is on hold due to mortgage market turbulance.

[carolott]

My favorite Greek grocery store went out of business, I think. I love Greektown and wish it would stay Greek...but alas...progress.