Fifth Ward Real Estate Developments - Your take

[Queso please]

I bought 3 lots in the Fifth Ward this past December, and am looking to buy up as many adjacent lots as I can. I'd love to own the whole block, but that's a bit ambitions for me. Time will tell if it's a good investment or not.

I don't think the Fifth Ward is being redeveloped - that would imply restoration of existing buildings. It's mostly old, run down row houses that probably need to be condemned and demolished. I view the Fifth Ward is a prime area for development - new homes, new shops, stores, etc. There's very little there that I can see - historical or otherwise - worth salvaging. Its close proximity to downtown is soooo enticing . . .

Now, if I can just get people to quit dumping on my lots every time I clear them and the City to pick up the trash and tires like they say they will (but don't), I'd be happy.

[LocalPlanner]

Originally Posted by Queso please

I bought 3 lots in the Fifth Ward this past December, and am looking to buy up as many adjacent lots as I can. I'd love to own the whole block, but that's a bit ambitions for me. Time will tell if it's a good investment or not.

I don't think the Fifth Ward is being redeveloped - that would imply restoration of existing buildings. It's mostly old, run down row houses that probably need to be condemned and demolished. I view the Fifth Ward is a prime area for development - new homes, new shops, stores, etc. There's very little there that I can see - historical or otherwise - worth salvaging. Its close proximity to downtown is soooo enticing . . .

Now, if I can just get people to quit dumping on my lots every time I clear them and the City to pick up the trash and tires like they say they will (but don't), I'd be happy.

Actually, "redeveloped" pretty much means demolition of existing structures. You might be thinking of "rehabilitated" or "restored" or "revitalized."

[Queso please]

Thank you LocalPlanner - I did mean "restored." Unlike the Heights and its distinctive bungalows, most of the residences I've seen don't have the character or "good bones" worth saving. A shame really . . . I'd live in a little refurbished shotgun home any day over a townhome/condo.

[stuu67]

I just recently purchased a house in the Nickel that I will be renting just south of Lyons near the newly renovated De Luxe Theater. If you research who owns property in there on HCAD you'll see that the majority of the property is owned by developers. I found that Intown Homes and Urban living is buying up everything they can get their hands on.

[jradMIT]

The location is prime, some areas aren't so terrible. Its primed for development especially as people will spill over from the Heights, it would be a long term 10 year deal but it is not crazy. However, its pretty much the most run down area overall, but the optimist or opportunist would consider that a buying opportunity, buy on the lows sell on the highs. The more west and south you can get the better. Remember the rail is running through there now as well. Obviously 3rd ward and 2nd are in a much better situation as the homes were larger and had much more character. If your looking its pretty much a tear down, or hold the fort till someone else tears down. But believe it or not 4th ward (ehemm Mid Town were just as bad in the the 90's). I remember over by Gray street where cyclones Etc is the Dope Boys used to run to your car when you stopped at a stop sign. Now look at it, so its not like it already hasn't been done. The location is just too good for it not to happen, the only caveat I would add is that if there is a prolonged energy down turn that 10 year could turn to 15. But keep in mind, a friend of my father's who is a real estate investor a duplex on Chenevert that was worth less than 100k in the 90's he sold it for 600k in 2006, the guy told him he could take anything he wanted off of it, they tore it torn and built a gated 8 town home property and sold them for 450k a piece. Not much downside with tremendous upside. Think of it as that incredibly talented player with attitude issues that can be got in the later rounds who has 1st round upside.

[stuu67]

There's 250 new townhomes being built between Waco and Lockwood north of I 10. South of I 10 is already being developed. I don't think it will take 10 years. I think you will see a substantial change in the next 3 years. Check out the link below.

New Homes For Sale in the Fifth Ward Houston

[joe n.]

Some good takes. My GF told me I was crazy that this area is a horrible investment. Reassured to see some of the comments here...

[sumana.mine]

Any opinions here about kashmere gardens?

[Failed Engineer]

I'm very bullish on 5th Ward as a whole, but I can't see the potential of Kashmere Gardens. Not sure if in any of our lifetimes that area will change all that much.