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Old 05-20-2012, 02:13 AM
 
37 posts, read 88,930 times
Reputation: 39

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With East Austin's 78702 area getting new life with an influx of hip eateries, music venues, residential construction, older-home renovations and other signs of burgeoning urban renewal, is transformation of adjacent East Austin zip code 78721 sure to follow? Renewal in 78721 seems quite a bit slower yet still inevitable, so I'm interested in the possibilities and wondering what's in store for 78721 in the next decade. Anybody know? Thanks.
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Old 05-20-2012, 06:57 PM
 
41 posts, read 122,764 times
Reputation: 107
Default 78721

I imagine this area will probably gentrify at some point, yes, almost certainly in the next decade. I'm not sure about "renewing" it...if you look at a crime map this zip is actually safer in a lot of aspects than a lot of already gentrified places. Semantics, I know, I just really don't like that word. If you are talking about home values increasing, I don't see how they wouldn't. Housing closer in is already cost-prohibitive to buy for a lot of people...when you have the choice between a tear-down shack for 175k or a nicely kept home 5 minutes away for 120k, you will see people slowly start to move eastward.
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Old 05-22-2012, 01:02 AM
 
37 posts, read 88,930 times
Reputation: 39
Default What's the urban renewal forecast for East Austin 78721 area?

Quote:
Originally Posted by blueskies85 View Post
I imagine this area will probably gentrify at some point, yes, almost certainly in the next decade. I'm not sure about "renewing" it...if you look at a crime map this zip is actually safer in a lot of aspects than a lot of already gentrified places. Semantics, I know, I just really don't like that word. If you are talking about home values increasing, I don't see how they wouldn't. Housing closer in is already cost-prohibitive to buy for a lot of people...when you have the choice between a tear-down shack for 175k or a nicely kept home 5 minutes away for 120k, you will see people slowly start to move eastward.
Thanks, Blue. I used "renewal," because 78721 appears due for a freshening up - with more sidewalks, streetlights, renovated homes, modern construction and in-demand businesses. Some houses over there - new construction - already seem to be selling past the $200k mark, so I'm curious about the area's potential over time. Good to know that 78721 may be even safer than some other popular spots - Were you referring to property crime? Violent crime? - and its proximity to downtown Austin should help the property values as more folks look to East Austin's possibilities.
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