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Old 05-09-2010, 06:17 AM
 
22 posts, read 29,664 times
Reputation: 15
Default Francisville Up & Coming?

Hi-
I moved to NYC 6 years ago from Philly and am looking to move back, specifically purchase a home, but I'm a little out of touch with the state of the various Philly neighborhoods. I was looking in the Art Museum area, but my search brought me a little farther east to Francisville, close to 18th and Fairmount.

What is the tradrectory of the hood? To the south and west are obvi already nice. To the north and east, I'm not so sure about. I embrace diversity and would love to be somewhere up and coming as opposed to somewhere that is already there. However, I also embrace my personal safety and obviously want my investment to go in the right direction if I am making a purchase.

Thoughts??
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Old 05-10-2010, 07:51 AM
 
101 posts, read 248,793 times
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up and coming might be correct, but still many years away. i personally find 18th and fairmount to be very nice but as you go towards broad and back towards ridge it can still be very sketchy. you may want to reserach the local development plans as i believe there are some big new construction plans that may have impact on that neighborhood. i would say it's definitely a good investment area but spend a warm summer night walking around to determine if you'd feel safe.
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Old 05-10-2010, 08:23 AM
 
Location: Philly
8,589 posts, read 6,739,876 times
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I don't know about "many years." the area to the south is running out of room and development is in full swing along the eastern portion of fairmount ave. francisville is block by block. I'd be most wary of being near the PHA housing along ridge (17th-poplar along ridge and right off of it). in terms of safety, along the southern and western parts are the safest bets but I wouldn't right off the area near broad either. just be careful about pricing, there are lots of high prices that aren't moving, prices need to come down. the lower priced stuff moves quickly.
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Old 05-11-2010, 10:40 AM
 
22 posts, read 29,664 times
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Thanks so much for the feedback! I did take a walk around and saw that a site just behind Francisville Park has been leveled for construction. According to an old article I dug up it looks like its supposed to be a mix of townhouses and condos. Does anyone know the status of the project? I'd hate to see this development halted by lack of financing or something and it would probably be bad for the development of the neighborhood. Also, is there a way to see what the project is supposed to look like when it's finished? I'm not sure how to go about finding that info.

I'm not looking for a short term investment. If all goes well, I'd buy a place at these low interests rates and rent for a year (maybe two depending on how quickly I can convince my job to let me work in Philly) before moving in. But I'm looking for a place I would stay in for up to 10 years and likely have a young family in. Hopefully, this section will come around by then.

Thanks!
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Old 05-12-2010, 09:52 AM
 
Location: Philly
8,589 posts, read 6,739,876 times
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Quote:
Originally Posted by longtoe View Post
Thanks so much for the feedback! I did take a walk around and saw that a site just behind Francisville Park has been leveled for construction. According to an old article I dug up it looks like its supposed to be a mix of townhouses and condos. Does anyone know the status of the project? I'd hate to see this development halted by lack of financing or something and it would probably be bad for the development of the neighborhood. Also, is there a way to see what the project is supposed to look like when it's finished? I'm not sure how to go about finding that info.

I'm not looking for a short term investment. If all goes well, I'd buy a place at these low interests rates and rent for a year (maybe two depending on how quickly I can convince my job to let me work in Philly) before moving in. But I'm looking for a place I would stay in for up to 10 years and likely have a young family in. Hopefully, this section will come around by then.

Thanks!
it will happen, but not sure when. if you're not ready to live there, don't buy yet. the days of rapidly inflating prices are likely over. with all the new supply coming on the market, you should be able to get just as good a deal next year as now. I think the neighborhood is a good place to live and will continue to improve over the next decade.
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Old 10-01-2010, 05:01 PM
 
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I am also looking to buy in francisville at 19th and cambridge. Does anyone know anything about the saftey of this area. I want to buy a house that will increase in equity over the next few years. it looks as though there are a ton of new homes in that area going in!
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Old 10-12-2010, 08:05 AM
 
22 posts, read 29,664 times
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Having spent a few months walking in that area looking at homes, my observation is the closer to Ridge & Girard (and 19th & Cambridge is really really close) the worse it gets. I believe you can walk around safely in the daytime, but at night I'd be nervous. (This is coming from a smallish white girl btw).

I've lived in Brooklyn for a while and been volunteering for 6 yrs in BedStuy, not known for safety, and the Ridge/Girard area actually makes me feel more uncomfortable.

However, I've heard rumors Temple will be putting rejuvenation dollars into the surrounding area, similar to what happened in University City over the past decade. So, in time, you could have growth from both directions, making for a nice increase in value. The borders of the very nice Art Museum area continue to move north and east, and the Temple area (if the rumors are true) should develop from the other direction.

Again, this is just my perception from walking around. Someone who actually lives there might have different, more valid observations.
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Old 10-12-2010, 01:01 PM
 
Location: Philly
8,589 posts, read 6,739,876 times
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I'd say 19th is the dividing line, at least that far north. if you live on 19th, generally you'll walk south on 19th, or on corinthian (20th isn't bad either but corinthian is better lit at night). late at night, I'd prefer walking down fairmount to 19th than getting off at broad and girard from the subway. during the day, I'd walk up to girard and avoid ridge. the worst part of ridge isn't girard, though, it's closer to the middle..around 17th.
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Old 10-16-2010, 04:15 AM
 
Location: The Present
1,987 posts, read 1,874,040 times
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I think it will be, especially with the access to the subway. Its an interesting area, I think it'll take a few years and I agree the prices do need to drop some but when stuff is low in a neighborhood like that it gets snatched up like fresh cookies.
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Old 10-17-2010, 11:52 AM
 
219 posts, read 301,756 times
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Francisville is getting developed so quickly because it was the last non-gentrified area within Center City's natural boundaries- Girard to Washington. It's getting spillover from Fairmount, which can't gentrify any further into Brewerytown. I remember my middle school was just a few blocks away from Francisville, and I used to walk through it some mornings and afternoons, and always wondered why it was so neglected compared to surrounding neighborhoods. I'm glad it's over, although it seems that the new construction and gentrification is more visible west of Ridge Avenue. What the place needs now are all the businesses that gentrification usually attracts- restaurants, craft clothing and art stores, garden shops, etc. Right now the only cluster of Businesses like that is by the southeastern end of the penitentiary- L'Oca the Italian restaurant, a really awesome neighborhood pottery store, and the Philly beer school.
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