Why are Winooski and Old North End still affordable? (Burlington: low income, real estate)

[quickdraw]

I've lived in many "hot" cities such as Burlington. Without exception, I watched fringe neighborhoods get steamrolled with real estate speculators
and builders who force out the lower and middle/lower class and turn the one time blue collar nighborhoods into havens for yuppies. Surprisingly, this hasn't happened in Burlington. Especially considering how tiny the area of Burlington and Winoski is. Is there a reason for this? Is it politics? I've never seen anything like it. I would have bet everything I had that the Old North End would have been gentrified by now.

[vter]

I'd be interested in hearing thoughts on this as well. Winooski does seem to have some "gentrification" going on with the Winooski Falls project, and I do see some infill projects here and there in the ONE, but nothing like what happened to say, the South End of Boston in the 90s.
There are a couple Burlington area realtors who participate here than can hopefully give a good perspective for us!

[flu189]

The topic of gentrification recently came up with my sons as they have several friends who have taken jobs in NYC and other major cities elsewhere. The reason this is not really happening here in Vt on a noticeable scale is basically that the volume of paying jobs which promotes this just do not exist here.

[quickdraw]

Originally Posted by flu189

The topic of gentrification recently came up with my sons as they have several friends who have taken jobs in NYC and other major cities elsewhere. The reason this is not really happening here in Vt on a noticeable scale is basically that the volume of paying jobs which promotes this just do not exist here.

I can't tell you how many people I know are looking for apartments in Burlington and can't find them. Have you seen some of these old houses in Burlington that rent apartments? Every nook and crannie in the place is a seperate apartment. I'm no expert, but it seems like the north end would be a gold mine. I'm just wondering if politics plays a part in this. As we all know, many of the Burlington politicians are very concerned that low income families get a fair shake. For instance, when the new condos were built on the lake, there was stipulation that a building be set aside for low income renters. Although from what I understand, that hasn't worked out the way it was supposed to.

[radioclown]

I think the Old North End simply has a bad rap. I know that in previous years there has been considerable crime there, but in the last few years things seem to be getting better. There is the Boys and Girls Club for the kids to hang out at, and people seem to look out for each other there. You will also find quite a bit of ethnic diversity there which makes it appealing.

[quickdraw]

Originally Posted by radioclown

I think the Old North End simply has a bad rap. I know that in previous years there has been considerable crime there, but in the last few years things seem to be getting better. There is the Boys and Girls Club for the kids to hang out at, and people seem to look out for each other there. You will also find quite a bit of ethnic diversity there which makes it appealing.

Well that's not really my point. I'm wondering why real estate here seems to be bucking the gentrification trend of so many other places.

[flu189]

Another factor here is that we have one of the tightest rental markets in the country. The demand exceeds the supply and for that reason some neighborhoods which may have been considered less than desirable may offer the only choice which in turn may be a good thing by bringing more people who are responsible into a neighborhood. Now in large cities where properties are being upgraded in depressed areas are bringing in top dollar which can be a bad thing for the traditional population as many are being priced out. The pressure on the rental market will continue as many working couples in their 20s and 30s who years ago would have been potential buyers are now becoming extended renters.

[mustmove]

All valid points. Don't forget regulation- I'm sure tearing up old buildings in Burlington is not a pleasant regulatory experience. Mix that with high demand already mentioned and you have crappy old rental units. The affordable housing as a percentage of new housing regulations have been updated in VT. Now the affordable housing has to be on contingent property.

[MTK1]

I lived on North St in the ONE for 2 years. I would agree with Flu in that the job market just does not support gentrification in Burlington. 57% of Burlington's residents are low to moderate income according to the Burlington CEDO. The apartments even in the much cheaper ONE are overpriced in relation to the wages of the area. It also has the oldest housing stock in Burlington and tearing one down would never be allowed with all the regulations. An example of how just tight the regulations are- I had a friend who rented in the ONE and had 75 year old stain glass windows in her apartment. Her landlord was not allowed to install new windows because they were considered historic. She had to tape plastic and blankets over them in the winter to practically prevent it from snowing inside.

A very detailed publication by the Burlington CEDO on demographics, housing, jobs, etc can be found.

2008 Proposed Consolidated Plan for Housing & Community Development

[quickdraw]

[quote=flu189;4232835]Another factor here is that we have one of the tightest rental markets in the country. The demand exceeds the supply and for that reason some neighborhoods which may have been considered less than desirable may offer the only choice /quote]

That is my point. So why haven't Winooski and the North End been gentrified. Politics? Is the city not allowing teardowns and massive rehabs
to assure affordable housing?