The Park at Melrose? (Green Hill, Midtown: apartment complex, condos, crime)

[KYguy]

located here: http://www.google.com/maphp?hl=en&tab=wl&q=2310 Elliott+Ave+#840 Nashville TN 37204 (broken link)
http://www.parkatmelrose.info/

2BR in the $200-250k range.

This is a current development. Some people have moved in, some units are not complete. I just moved to Nashville and this is one area that's come up on my radar. I'm 28 and single and looking for something "close to the fun". A couple of my Nashville friends has said this isn't a great area. My realtor says differently. What are your thoughts?

Is this an area that you see improving or getting worse over time?

[ariesjow]

That area is improving due to 12South being nearby and lots of development and re-development around Wedgewood Avenue. I believe the Park at Melrose used to be a low-income apartment complex that was completely gutted, totally refurbished, and turned into condos. Prices are going up in that area. My aunt lives nearby and folks stop by weekly asking her if she's interested in selling her home.

If you're a bit of a pioneer, this may be a good time to buy in that area as it's likely to improve considerably in the coming years because of it's proximity to 12South, the Gulch, Green Hills, etc. If you're not, then your $250k might be better spent on a condo somewhere else. I know two bedrooms are going for about the same price or cheaper in the North Capitol area and there may be some for around the same in Hillsboro Village or elsewhere in Midtown.

[KYguy]

Sounds like you're saying it's likely a good investment, which is what I'm looking for.

Is that area relatively safe? I realize anywhere in the city is going to be close to something undesirable. My Nashville friends have made me bit hesitant about this area. I've been through there several times and it seems ok, but you can only tell so much from a drive-by (pun intended).

[ariesjow]

I think the Melrose area is relatively safe but I'm sure others will disagree. At the very least, the Melrose area isn't any worse than any of the other up-and-coming urban neighborhoods. I'm much less hypersensitive about small crimes like robberies compared to some others though. Perhaps it's a matter of your personal comfort level. Personally, I think the odds of someone being a crime statistic in the vast majority of Nashville's neighborhoods are fairly slim unless you're involved in some shadiness.

[melroseresident]

I am moving to this place next month. In terms of the “value for your dollar” it is the best deal around. As far as I know, this place was NOT a refurbishment of low-income housing—it is a completely new development (owner said she saw it being built from the ground up). Perhaps there was a previous development that they tore down...

The area isn’t “bad” as some folks think. In fact, it’s pretty nice--I visited there last week and saw people jogging durinalong the sidewalk and some pretty fancy cars parked along the street. I currently live in a fancy Boston neighborhood, and while this place obviously isn’t downtown Broadway, it’ll do me just fine [/FONT And it’s only 7 minutes away from downtown!

Plus the building/facility are really really nice! Great pool, gym, etc….). If I had the money to buy a place, I would think this place is a good deal.