There is a King Street in Old Village too, OTC.
And yes, Old Village is in a pretty good area overall. Old Village itself doesn't have too many worries, but I'd caution safety and security no matter where you live. There hasn't been a neighborhood built yet that is immune to crime. The short sale in that area that's priced very low is pretty much isolated, directly across from the water treatment facility, with only one or two older/in need of repair homes in the immediate area. So I can understand your concern.
You'll need to come visit and see the area for yourself to make sure it's a good fit for you and yours.