5 Up-and-Coming PHX Areas (Phoenix, Peoria: condos, hotel, houses)

[vince3vince]

To each their own. I agree with zippyman. I'm all for revitalizing old areas, but I'd think revitalizing already desirable areas like the Camelback corridor, Arcadia, or south Scottsdale/Tempe is a wiser investment.

[Valley Native]

Originally Posted by vince3vince

To each their own. I agree with zippyman. I'm all for revitalizing old areas, but I'd think revitalizing already desirable areas like the Camelback corridor, Arcadia, or south Scottsdale/Tempe is a wiser investment.

I agree completely. None of these neighborhoods listed in the article are what I would consider good investments ... unless there is some kind of secret revitalization going on that I'm not aware of. The Woodland neighborhood in particular has always been a bad area. Even back in the 1980s, I remember Woodland Park being occupied by homeless, drug addicts, and other such high class pillars of society. I think it's going to be a huge task for all these mentioned areas to become desirable, but it can be done with good investments & community effort. The Roosevelt neighborhood in particular used to be a haven for drug houses & prostitutes at one time, but now it's an arts district thanks to revitalization efforts.

[kytoaz]

I think the key to this is that an area has to have something going for it other than cheap houses. Most areas that are gentrifying in U.S. cities are close to downtown which is a big draw for people tired of massive commutes. I think this might help Garfield get over the hump. These other nabes really have nothing going for them location wise other than sunnyslope being so close to mountain views.

[bingitslola]

I took a chance and moved from the Biltmore area down to Garfield and absolutely love it. there's something about living in a house it is actually made of brick (my house doesn't shudder when a plane or helicopter goes overhead) and having a community were you know your neighbors. I love the artwork and being able to walk to restaurants and neat little shops. Not to mention being 30 minutes from anywhere in the city. Its certainly not for everyone but it was definitely the right choice for me. I honestly thought there was nothing for me in the area until I moved downtown. I grew up back East so having character and charm is really important to me ;-)

[cacto]

Very cool neighborhoods. I've said it before and I'll say it again, but when bohemia discovers Sunnyslope it'll be a match made in heaven.

[grmi66]

^^^^This - I've been saying that about the 'Slope for the last 15 years. Used to live a few miles west of Sunnyslope and drove through there almost every day. Once they built the police substation on Peoria the area got a lot better. Still a little rough but huge potential for someone who wants to be an urban pioneer.

[observer53]

Originally Posted by LagunaMom

Oh, ick.
West of the Coliseum? Within walking distance of the Capitol?

No, not west of the Coliseum. Over a mile south, and east.

Originally Posted by asufan

Yeah that Woodland one is 100% still a crap area. I just looked at a 4-plex investment property a few streets North of there and there was drug dealing and prostitution going on in plain sight. Lots of people out mid day with no job to go to, gang tattoo's everywhere including eyebrows and the top of shaved heads lol. And the woodland description is a narrow strip of houses, one block from North to South, how "good" can an area be if all of this is going on a 30 second walk to the North.

I believe the Garfield area truly is up and coming, but it's been a slooow process. I remember developers speaking in my classes at ASU in 1999 or so about the revitalization going on there, but 15 years later it still seems to be in it's infancy.

The difference between north of Van Buren and south is really evident, so I'm not surprised you saw what you saw. Woodland is just a couple of blocks, north to south. I know a single woman who lives in one of those bungalows and feels perfectly safe. The Capitol Mall Association has been active over the years in improving that area, and it does show. It would be great if the improvement would spread north, but you are right, I'm not seeing it now.

[Valley Native]

Originally Posted by grmi66

^^^^This - I've been saying that about the 'Slope for the last 15 years. Used to live a few miles west of Sunnyslope and drove through there almost every day. Once they built the police substation on Peoria the area got a lot better. Still a little rough but huge potential for someone who wants to be an urban pioneer.

Sunnyslope has potential, but I think it's a long way off from being another Roosevelt. It would be kind of cool to see a revitalized neighborhood with row houses and more walkable. Sunnyslope is fairly walkable as is, but revamping the area would give it more walkability. I wonder what it would be called if & when revitalization happens ... the "Slope", or possibly "Slo Ro"? I remember a long time ago, Van Buren was nicknamed "Ho Ro", but that had a meaning all its own.
()

[PoppySead]

I have my fingers crossed on these areas and hope they do grow into something investment worthy. Interesting prospects here, and I do know a few people who've moved downtown to breath the life back into these old homes. A lot of issues, especially in the plumbing and electrical area but they turn out nice after you sink about 100,000 or more into them. Not money savers, the price you pay at first is just half of what you'll pay in the end after fixing it up though. It's a bit misleading, you can't get a decent home for 100,000, but a fixer upper you can. Those who are into customizing enjoy the project. One of my friends went almost 2 years in with renovations, and he is still at it. He's single though, and can live in one tiny corner of the house for a long period of time while he carves away on the rest. It would be hard on a family.

[WSPHXPELON]

Originally Posted by PoppySead

I have my fingers crossed on these areas and hope they do grow into something investment worthy. Interesting prospects here, and I do know a few people who've moved downtown to breath the life back into these old homes. A lot of issues, especially in the plumbing and electrical area but they turn out nice after you sink about 100,000 or more into them. Not money savers, the price you pay at first is just half of what you'll pay in the end after fixing it up though. It's a bit misleading, you can't get a decent home for 100,000, but a fixer upper you can. Those who are into customizing enjoy the project. One of my friends went almost 2 years in with renovations, and he is still at it. He's single though, and can live in one tiny corner of the house for a long period of time while he carves away on the rest. It would be hard on a family.

In general I would agree; there tend to be more historic homes downtown with the types of issues you mentioned. However you do have some new(er) builds in the mix too...For example I bought my SFR downtown about 2 years ago (when the market was at it's bottom) at about $60k and it's a 3br 2ba masonry framed sfr with 2 car garage built in the year 2000. It was a foreclosure that I bought through Fannie Mae and I only had to spend about $3,000 to make it move in ready (just some simple stuff).

I was somewhat the exception from the rule but my point is that there are good oppertunities out there to be found for the patient investor and/or potential owner-occupant.