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Old 10-24-2011, 10:31 AM
 
Location: Philadelphia
11,976 posts, read 11,220,240 times
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If you were to purchase a low cost home to rent out and possibly reside in either one of these areas (North of Lancaster between 38th and 42nd and around Wharton between 25th and 30th) which would you choose?

I realize both of these are close to sketchy areas and probably considered sketchy areas themselves. But they are both so damn close to Center City and the trolleys and El in University City are so useful. Not too sure about PT in Gray's Ferry but a mile up Gray's Ferry Avenue is Rittenhouse Square so I feel like both of these areas will continue to improve. Mantua has the advantages of being adjacent to Fairmount Park while Gray's Ferry has the advantage of being adjacent to the river and in the future I believe the River trail is supposed to reach Gray's Ferry. Which would have the greatest ROI? Thoughts?

Last edited by 2e1m5a; 10-24-2011 at 10:46 AM..
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Old 10-24-2011, 10:49 AM
 
Location: Bella Vista
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Quote:
Originally Posted by 2e1m5a View Post
If you were to purchase a low cost home to rent out and possibly reside in either one of these areas (North of Lancaster between 38th and 42nd and around Wharton between 25th and 30th) which would you choose?

I realize both of these are close to sketchy areas and probably considered sketchy areas themselves. But they are both so damn close to Center City and the trolleys and El in University City are so useful. Not too sure about PT in Gray's Ferry but a mile up Gray's Ferry Avenue is Rittenhouse Square so I feel like both of these areas will continue to improve. Mantua has the advantages of being adjacent to Fairmount Park while Gray's Ferry has the advantage of being adjacent to the river and in the future I believe the River trail is supposed to reach Gray's Ferry. Which would have the greatest ROI? Thoughts?
I think both areas are on the rise, but I think Mantua is coming along much faster. Drexel has just exploded over the past 20 years and it is very quickly expanding out into mantua. It seems like every year it's area of influence grows by blocks.
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Old 10-24-2011, 11:03 AM
 
Location: Philadelphia
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Originally Posted by phillies2011 View Post
I think both areas are on the rise, but I think Mantua is coming along much faster. Drexel has just exploded over the past 20 years and it is very quickly expanding out into mantua. It seems like every year it's area of influence grows by blocks.
Yeah that makes sense. College students will always need housing too.
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Old 10-24-2011, 11:36 AM
 
Location: Bella Vista
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Originally Posted by 2e1m5a View Post
Yeah that makes sense. College students will always need housing too.
Nothing helps gentrification like college students. The good thing is though the redevelopment of the community is now extending far beyond just college kids moving out into bad neighborhoods. Last I came through the area I saw a bunch of new storefronts, a coffee shop, a few corner stores, a barber shop, a couple of restaurants. The whole area is just looking better every time I come through.
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Old 10-24-2011, 12:00 PM
 
Location: Philadelphia
11,976 posts, read 11,220,240 times
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Quote:
Originally Posted by phillies2011 View Post
Nothing helps gentrification like college students. The good thing is though the redevelopment of the community is now extending far beyond just college kids moving out into bad neighborhoods. Last I came through the area I saw a bunch of new storefronts, a coffee shop, a few corner stores, a barber shop, a couple of restaurants. The whole area is just looking better every time I come through.
Yeah, I'm always impressed with the greater UC area-always so much activity. It seems Drexel and Penn are really doing wonders for the area and building plans are ongoing. It also seems that the neighborhood residents are more alligned with the colleges in UC when compared to Temple U and the older residents that surround Temple's campus.
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Old 10-25-2011, 12:42 AM
 
Location: University City, Philadelphia
22,630 posts, read 13,207,704 times
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Quote:
Originally Posted by phillies2011 View Post
I think both areas are on the rise, but I think Mantua is coming along much faster. Drexel has just exploded over the past 20 years and it is very quickly expanding out into mantua. It seems like every year it's area of influence grows by blocks.
I agree.

There is a "new neighborhood" called West Powelton Village that is centered around Baring and Spring Garden Street from 38th through 42nd Street that is really showing signs of improvement ... and on top of that it is rather pretty. Proximity to University City and all it has to offer like cafes, restaurants, pubs, shopping, etc. is a real advantage.
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Old 10-25-2011, 01:48 AM
 
Location: philadelphia
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Echoing what others have said, I would definitely go with West Powelton or Mantua over Grays Ferry.
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Old 10-26-2011, 10:19 AM
 
9,093 posts, read 17,347,529 times
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from my understanding the "west powelton" area is going to get a lot of focus .... Drexel has put a decent amount of money into Vidas Field @ 42nd & Powelton ... when I was there many students didn't like going to the games there as it was disjointed from campus and a little shady

also at that time there was big difference between 38th & lancaster and 38th & baring

it looks like the drexel zone of influence has swallowed up a lot more to the north and is now looking to fill in that gap towards the athletic fields and it would seem natural for that "west powelton" zone to continue it's movement towards being student friendly

with that said though, I see the university having less influence the further you get north from spring garden .... it definitely seems like the plans are to fill in more towards the east up to spring garden
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