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Old 07-08-2018, 04:39 PM
 
Location: Hagerstown
447 posts, read 1,022,477 times
Reputation: 148

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Plans are well underway and moving along nicely. In my lifetime, there has never been anything like what is happening right now downtown. The construction is unreal. Below is a link to the Urban Improvement Project the city has taken on.

https://www.hagerstownmd.org/1321/Ur...vement-Project

There's a lot more on top of just what's in that website. The Maryland Stadium Authority is studying building a new minor league baseball stadium downtown as well. With that has come some potential investors (a craft brewery, for example, is one of them) who want to invest near the proposed site. There are plans for a decent size office building, nearby hotel, etc. There are many smaller projects taking place across the downtown as well, several involve student housing for the downtown University of Maryland.

Things are definitely looking up right now.
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Old 07-10-2018, 12:03 PM
 
44 posts, read 37,401 times
Reputation: 36
Thanks for the response, Htownterp! Gathering some facts and feedback for a potential investor and - without being able to read the future - adding the +'s and -'s is a formidable step. I see a developer mentioned in one the few previous Hagerstown threads seems to have shifted his focus to outside of Hagerstown. Not sure if that is an expansion or shift away...
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Old 07-10-2018, 05:12 PM
 
Location: Hagerstown
447 posts, read 1,022,477 times
Reputation: 148
Not sure. Commercial growth has picked up recently. New housing is starting to tic up....but slowly. Downtown is drawing some renewed interest. We'll see.
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Old 07-11-2018, 11:51 AM
 
44 posts, read 37,401 times
Reputation: 36
Thanks so much for the response.
If you were investing (small residential duplex or MF), where would you purchase? Many investors have scooped up property all over, but I also notice there are very large numbers of tenants not paying rent in both Frederick and Washington Counties. Hopefully, good screening prevents some, but the numbers are surprising. There seems to be some good activity around Mulberry, more so than downtown - where there are so many beautiful buildings.
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Old 07-11-2018, 08:23 PM
 
Location: Hagerstown
447 posts, read 1,022,477 times
Reputation: 148
Yeah....Mulberry has some decent things happening. I'd invest in some of the older buildings downtown if I were you. Some can be had for cheap and as the area gentrifies, they are being sold for more and more. Here's and article today about a run down property that is going to be transformed next to a new park:

https://www.heraldmailmedia.com/news...72d0907a9.html

Housing stock right in the downtown is still questionable. East end is promising and I'd look at areas near the Municipal Golf Course, Stadium, etc. New commercial growth, roads, and private investment like below are coming:

https://www.heraldmailmedia.com/news...12799629e.html
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Old 07-12-2018, 01:13 PM
 
44 posts, read 37,401 times
Reputation: 36
Thanks for the tips, htown.
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