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Old 08-25-2011, 10:59 PM
 
Location: 15206
1,406 posts, read 932,026 times
Reputation: 881

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I feel that I can speak for the the positive momentum that East Lib is taking:

As far as for sale residential:

The 700 blocks of the neighborhood - near Stanton Ave - have improved 10 fold in the last 5 years.

The 700 block of Beatty has had two houses sell for over 200k this year and another is for sale for over 300k.

The 700 block of N Euclid has had 7 new houses built and 1 rehabbed flipped house. All are sold. They sold from 220k - 350k. There are 2 more rehabs under construction. A rehabbed house sold on the 600 block for 220k a few months ago.

The 700 block of N St Clair has 2 complete rehab houses for sale from 275-299k and 3 more under construction. Two rehabbed row houses sold on the 600 block for around 130k.

The 700 block of Mellon had about 15 houses built 12 years ago and one resold recently in the high 100's. There were 4 new homes that sold in the high 100's a few years ago and 6 rehab row houses that went for just over 100k about 3 years ago.

This area is just a 10-15 minute walk from Whole Foods and that whole area. Even less to Abay, Ava, etc.

The corner of Penn and Highland is going to be a 6 screen movie theater with a restaurant built in. The YMCA is going to be a hotel. The Highlander building is being done as high end rentals by Walnut Capital.

Unless the economy crashes again like in 2008, this is going to be a big decade for East Liberty. I've personally invested hundreds of thousands in the area in the past few years and I am about to sign off on another project and another loan with a projected cost being close to 400k.
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