What's next...

[PhilliesPhan2013]

Originally Posted by Pennsport

Regarding Templetown, I see the east of Broad area (just west of the Badlands and east of the PHA housing - I believe 10th street), slowly spreading south simultaneous to private development rather quickly spreading north. I just saw new construction on Oxford St going for near 400k! Less than a decade ago, you didn't dare walk further north than Thompson St. Once that all connects, IMO, it will provide a nice solid anchor for slow but sustainable growth in all directions...

If I was in the market for another investment house now, this is definitely where I would look. I think though you only have about 2 years, if that, to get in that area at a "can't lose" price point.

I completely agree with that! With development in South Kensington pushing north (I literally watched new homes pop up while riding the Regional Rail these past two semesters), this area is a natural "next". This area and Norris Square will definitely be primed for revitalization by the next decade. If I had the available capital, I would buy rowhome shells and hold them. Once I sense the approaching wave of revitalization, I would renovate them and rent them out until I can be assured that a resale market has become viable.

[cpomp]

Originally Posted by PhilliesPhan2013

Woah, I never intended to make you think that I was hinting that the wealth and power in the suburbs are coming back to the city! I don't expect anything like that to happen in my lifetime. The Main Line is a collection of old money suburbs that have been established since the middle of the 19th century, and I wouldn't expect them to head back to the city after living outside of it for so long. As a region, we are lucky to have established old money neighborhoods in the city (Chestnut Hill, Rittenhouse Square, etc.) and in the suburbs (the Main Line).

All I was trying to do was express my optimism in regards to how Philly is beginning to rise in the public and financial spheres. I was likely overzealous with my optimism, however. Today, I decided to exit the El at 60th Street and explore the surrounding neighborhoods. That visit kind of threw me back into reality when it comes to how long it takes for neighborhoods to turn around. Some of the neighborhoods I listed as "further out" and "long-term" may very well not happen. The revitalization of larger sections of the city depend on how the city and state governments will treat Philly's newfound population and job growth. At this avenue, will both entities pursue policies that will benefit city residents and encourage sustainable growth, or will they continue to be generally inept?

Honestly, it just annoys me that some neighborhoods are in the condition that they are presently in. A lot of neighborhoods and individual blocks have been reduced to shells of what were formerly beautiful three-story brick rowhomes. I realize that this isn't completely due to population loss, however. Besides job loss, other factors include a declining birth rate, resulting in smaller families, and the advent of newer housing in the Northeast.

There are other wealthy suburbs outside of the Main Line (just being picky). Philadelphia is most certainly rising in the public sphere, the image and attitude of/ toward the city is taking on a much more positive light. Financially, I still think the city is lagging.


That hits the nail on the head. I have said before Philadelphia can only grow and prosper so much with its overall crappy leadership. If the leaders are replaced with modern educated thinkers, then the sky is the limit for Philadelphia, until then I see CC, U City, Greater CC, and a few other neighborhoods as the hotspots, the rest of the city will likely stay unchanged. My biggest hope is for Schuylkill Yards and the Rail Park to take off. If those projects are half as successful as Hudson Yards and the Hig Line in NYC, Philadelphia will greatly benefit.


In addition to some of the those formally beautiful neighborhoods reduced to shells, the city has lost so many incredible architectural gems during the 20th century for "development" and parking lots.

[kyb01]

Originally Posted by PhilliesPhan2013

All I was trying to do was express my optimism in regards to how Philly is beginning to rise in the public and financial spheres. I was likely overzealous with my optimism, however. Today, I decided to exit the El at 60th Street and explore the surrounding neighborhoods. That visit kind of threw me back into reality when it comes to how long it takes for neighborhoods to turn around. Some of the neighborhoods I listed as "further out" and "long-term" may very well not happen. The revitalization of larger sections of the city depend on how the city and state governments will treat Philly's newfound population and job growth. At this avenue, will both entities pursue policies that will benefit city residents and encourage sustainable growth, or will they continue to be generally inept?

I'm pretty familiar with the area around 60th and Market. My paternal grandparents lived in the unit block of N62nd
St. for many years. My sister lives in the same house today.

The retail around there was actually not so wretched until the re-build of the El which took years longer than it was supposed to. It ruined foot traffic and lots of vehicular access.

Make another trip, though, and get off the El at 63rd St. Someone built a brand new office building right there. You might want to find who the developer is and what their plans are.