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Towns between Bridgewater and Princeton are the fastest growing because houses are relatively cheap at 500k, and the Indians are setting up big communities there. Mostly here for IT jobs, etc.
In NJ, new communities bring in new buyers and new demographics, so the growth will come from farm land areas outside of bigger cities.
Bayonne, Burlington City, Bordentown City are obvious ones.
New Brunswick is tricky...it has so much promise, but I quite honestly don't see it ever becoming a place a family would want to live.
Phillipsburg and Plainfield are much less obvious, but I feel like both have gotten better. The two also have architectural charm and great transportation options.
If you expect there will be new rail tunnels into NYC, it's pretty much a sure bet that when built, the RVL would get Midtown Direct service. (as it's starting to on weekends/off-peak, but can't in rush hour due to lack of tunnel slots). I'd expect that would result in dramatic changes along the corridor, especially Netherwood-Raritan where most stations are along lower-wealth blue-collar areas/towns, that also often have the "walkable downtown" urbanites tend to like. (Dunellen, Bound Brook, Somerville)
There are at least 8 large scale developments that are taking place in downtown Rahway right now, that, combined with a new arts district makes me feel like Rahway is going up
We will see. I don't think the local businesses are doing very well. There is a building for sale directly across the street from the arts center. Right down the road from Park Square. The building houses a restaurant and two apartments.
The restaurant has 19 different reviews on Yelp and they are generally positive. With a solid commercial tenant and two apartments, while being in a supposed "great location", you would think it would have a significantly larger asking price then $350,000. You generally don't find comparable properties that cheap in North Jersey outside of the ghetto and similar deals seem to be common in Rahway.
I'm surprised nobody mentioned Hackensack.
Drove through the area and loved it,esp the Nyc views. It has so much potential
North Arlington is very nice too.
I'm surprised nobody mentioned Hackensack.
Drove through the area and loved it,esp the Nyc views. It has so much potential
North Arlington is very nice too.
I'm from Hackensack. They have been having a fairly good amount of new construction in the city. I wouldn't think of it as up and coming though. It's a bit pricey given it's many conveniences.
Seems to me one strategy would be to look would be where there's good transportation to NY but has been overlooked by the wealthier buyer for reasons which may be resolved. The trick, then, is to figure out which ones might be resolved, and when. Lyndhurst, Rahway, Linden, Hackensack, Orange, East Orange, parts of Newark, probably others. Even if you pick an area that really will be up-and-coming, can you carry the property until it actually comes up?
(If I knew the answers, I'd be investing rather than posting on C-D!)
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