EYA Enters Second Phase In Hyattsville Arts District (Beltsville, Brandywine: sale, 2013)

[adelphi_sky]

Well this is an interesting design. I'm not sure about it. It would have to grow on me.

EYA

[UrbanScholar]

I agree with you. It goes in line with the whole arts vibe but I could see that design looking dated really quickly.

[KCP_1980]

I drive past EYA twice a day (I live in walking distance) and I think that whole area has such a great vibe right now. While I personally had no desire to buy one of the townhouses--my husband and I talked about it at length and decided against it--I think, taken as a whole, EYA looks like a vibrant hipster kind of environment. Individually the buildings would look a little odd, though. Somehow it seems to work. The Lustine Center and the older brick buildings seem to balance things out.

[DomRep]

The floor plans are great and it seems like everything is spaced out evenly. The idea of the fourth floor being the "suite level" seems chic and cool.

[Mia_Anderson]

Originally Posted by KCP_1980

I drive past EYA twice a day (I live in walking distance) and I think that whole area has such a great vibe right now. While I personally had no desire to buy one of the townhouses--my husband and I talked about it at length and decided against it--I think, taken as a whole, EYA looks like a vibrant hipster kind of environment. Individually the buildings would look a little odd, though. Somehow it seems to work. The Lustine Center and the older brick buildings seem to balance things out.

My friend who lives in the area is thinking about buying one of their townhomes. Is ~360K+ a lot for Hyattsville? I thought Hyattsville was mostly working class. I could be wrong but this seems very risky given that it's in PG and most big homes in PG are selling for less than 280K at this time.

What is so special about the Arts District, that these homes are selling far above the area's market value? People have to be very careful when making purchasing decisions.

[adelphi_sky]

Originally Posted by Mia_Anderson

but this seems very risky given that it's in PG and most big homes in PG are selling for less than 280K at this time.

You got a source for that statistic?

What is so special about the Arts District, that these homes are selling far above the area's market value?

I'm not sure I understand this statement. If the homes are selling and people are buying at a certain price, that IS the market value. No?

What makes Hyattsville so special is that it is currently undergoing a transformation. It used to be a town you drove through with only the mall as a destination for most. But now there are a certain number of projects, EYA being one, that is transforming Hyattsville into a transit-oriented city with a growing arts community. Hyattsville is very walkable in some parts and enjoys almost a perfect racial balance between whites, blacks, and Hispanics according to the 2011 census.

There are good places to eat, shop, and play. There are also some historic neighborhoods within Hyattsville as well as a small Bed & Breakfast. Some people have a knack for getting in on the ground floor of a neighborhood that is becoming popular. You have to have that eye to see past what is current and have a feel to notice the dynamics of how and why something is a good investment. The people that camped out before some of the homes went on sale in the Arts District feel that they are getting in on something good. I agree with them.

People have to be very careful when making purchasing decisions.

I agree. They also need to get a feel for a place and do some quality research so they understand not only what is going on now, but also the results of current trends 15 years from now in terms of shifts in demographics, city amenities and services, schools (if necessary) and most importantly, home values. People need to take note of the entire Rt. 1. corridor from Mt. Ranier to Beltsville. There are major initiatives and projects slated for the next 5 years that will continue to transform that part of the county.

[CityGirl332]

Originally Posted by adelphi_sky

Well this is an interesting design. I'm not sure about it. It would have to grow on me.

EYA

I have decided to stay in the DC metro area and I'm strongly thinking about purchasing in the Arts District. I really like the development and overall diversity of the area.

[CityGirl332]

Originally Posted by adelphi_sky

You got a source for that statistic?



I'm not sure I understand this statement. If the homes are selling and people are buying at a certain price, that IS the market value. No?

I've heard a lot of great things about the area. There are however some people who will comment, (mostly those from different neighborhoods) who do not really know much about the Arts District.

What makes Hyattsville so special is that it is currently undergoing a transformation. It used to be a town you drove through with only the mall as a destination for most. But now there are a certain number of projects, EYA being one, that is transforming Hyattsville into a transit-oriented city with a growing arts community. Hyattsville is very walkable in some parts and enjoys almost a perfect racial balance between whites, blacks, and Hispanics according to the 2011 census.


There are good places to eat, shop, and play. There are also some historic neighborhoods within Hyattsville as well as a small Bed & Breakfast. Some people have a knack for getting in on the ground floor of a neighborhood that is becoming popular. You have to have that eye to see past what is current and have a feel to notice the dynamics of how and why something is a good investment. The people that camped out before some of the homes went on sale in the Arts District feel that they are getting in on something good. I agree with them.

Many times, people are unable to envision things, while it is occurring and that's unfortunate.

I agree. They also need to get a feel for a place and do some quality research so they understand not only what is going on now, but also the results of current trends 15 years from now in terms of shifts in demographics, city amenities and services, schools (if necessary) and most importantly, home values. People need to take note of the entire Rt. 1. corridor from Mt. Ranier to Beltsville. There are major initiatives and projects slated for the next 5 years that will continue to transform that part of the county.

I concur. In another 10-15 years, the area will be completely transformed and most will be priced out.

[KCP_1980]

re: Hyattsville as "working class" ... this is a truly diverse city. I'd say we personally (hubby and I) are middle class. Our income is in the $150's. We live next door to someone who runs a construction company. On the other side is a family where the husband is a photographer and the wife is a television producer. Across the street is another business owner. Down the street a bit is someone who works at a rather famous private school in the district, as a teacher. Another person on the block is a "house flipper" and buys houses to sell. He originally was going to flip his house on the street and then fell in love with the area and decided to stay a while. There's a family further down that is probably right around the poverty line; their home is small and run down a bit, they don't own a car, they do not speak English, and one of the family members was arrested for a drug related crime. Also on the street is a gay couple with a young child; I'm not sure what the parents do in that household but they are very friendly and appear to have professional jobs. One of the people on my street is from Nigeria and is very proud to be earning an income to support her family back in her home country; I'm not sure what employment she has.

So long story short, it's a mix here. I think my neighbors make more than we do, by a fair amount, and some clearly make less. Our house was a foreclosure we purchased in 2001 for $171,000 and it basically was the shell of a house. My neighbors spent $419K on their house at the peak of the last buying frenzy. You see houses at quite a range in Hyattsville.

I'm shelling out $501K for a new construction house in Brandywine (being built now) so I think anything under $400K is a darn good deal these days.

Hyattsville is an absolute gem! We LOVE this neighborhood. We just can't afford to build a new construction home here and we also had other reasons for the move (closer to family, work commutes, etc.). We're keeping this house as an investment; we don't ever plan to sell it. One day we may move back, even.

[CityGirl332]

I will be purchasing a home soon, and Hyattsville is definitely at the top of my list.