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Old 12-22-2017, 05:32 PM
 
Location: Phoenix, AZ
2,653 posts, read 2,184,436 times
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Hi Forum,

I'm a suburban dweller and somewhat risk-averse, but what parts of town are worth considering for renewal and gentrification in the near future? I'm new at this real estate gamble, but it's interesting to hear others opinions of up and coming neighborhoods
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Old 12-22-2017, 05:59 PM
 
Location: Uptown Phoenix, AZ
5,063 posts, read 4,379,624 times
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Quote:
Originally Posted by DougStark View Post
Hi Forum,

I'm a suburban dweller and somewhat risk-averse, but what parts of town are worth considering for renewal and gentrification in the near future? I'm new at this real estate gamble, but it's interesting to hear others opinions of up and coming neighborhoods
I think it's important to understand the cities change over time and geography of the cities' layout.

Arcadia used to be... not that good. But it became good. Why? Proximity to Biltmore and Old Town Scottsdale, mountains (particularly Camelback), sharing schools with high income residents (like mountainside of Camelback), decent commutes to most employment hubs... and older properties that made it stand out and irrigated lots. They don't build ranch homes like that anymore, especially with irrigated lots.

With the situation of Arcadia, it would be important to note why Arcadia fell out in the 70s-90s give or take. I would argue with Arcadia there was a lot more suburbanization occurring at the time, particularly in farther suburbs outside of Phoenix proper that were further from the blight of Downtown. This was a nationwide phenomenon. We refer to it as "white flight", the very opposite of gentrification. For example my grandparents, wealthy in this timeframe, built a cookie cutter mansion-sized home in Central Scottsdale, east of the now 101 which was nowhere near an idea at the time their home was built. Their home, which was white with red tile roof, a popular design choice here in the Valley, does not exist in Arcadia. Arcadia was not only closer to blight and high crime, but out of style, no longer trendy or a popular lifestyle choice.

In order for an area to be gentrified, it would have to go through blight. The new homes out in Gilbert on old farmland are not gentrified areas. With that being said, we need to look at Phoenix's older areas of town.

When considering the history of white flight after the second World War up to the turn of this century give or take, we need to consider what the opposite of that would look like. What is the vice versa?

The return to the city.

So these will be inner ring neighborhoods that are blighted and affordable. Think South Phoenix, which is going through heavy gentrification right now and will continue to do so.
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Old 12-22-2017, 06:38 PM
 
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If you need it to already be gentrifying now then go with Garfield and Eastlake Park. If you want to wait a few years go with Central Park and Grant Park. Those are still sheethole neighborhoods but won't be long before the Hipsters "discover" them and begin driving up the RE prices. Just look at their vicinity to downtown and look at all the other areas around downtown that went from crap to trendy in the matter of a few years.
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Old 12-22-2017, 07:21 PM
YAZ
 
Location: Phoenix,AZ
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Hoping that the Metrocenter area is on deck.

Wishful thinking maybe, as the addition of WalMart recently was an upgrade.

Plans are for more office space, medical included....and some senior living. Will be considered a genius move if it works out.
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Old 12-23-2017, 07:47 AM
 
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https://azbigmedia.com/habitat-human...evitalization/
Article about the Grant Park and Central Park neighborhoods I was talking about
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Old 12-23-2017, 09:08 AM
 
Location: Downtown Phoenix, AZ
22,301 posts, read 8,835,745 times
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Quote:
Originally Posted by WSPHXPELON View Post
If you need it to already be gentrifying now then go with Garfield and Eastlake Park. If you want to wait a few years go with Central Park and Grant Park. Those are still sheethole neighborhoods but won't be long before the Hipsters "discover" them and begin driving up the RE prices. Just look at their vicinity to downtown and look at all the other areas around downtown that went from crap to trendy in the matter of a few years.
I was going to say that, I refer to that whole section of town from 16th St to 23rd Ave between Buchanan and Durango as "The Barrios". It's too close to downtown to not be gentrified. I live in Eastlake Park right now, right at the 12th St Light Rail Stop, and have seen how it's been turned around in the last 15-20 years, I expect that when the South Central light rail line is finished and open, is when the turnaround begins for "The Barrios"....
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Old 12-23-2017, 09:23 AM
 
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The area around Thomas to McDowell the 51 to 36th street is gentrifying rapidly as we speak.

I gotta say though, prices right now, even in that area, are approaching 300k blight and all. Now seems like a bad time to get into the flipping game.
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Old 12-23-2017, 11:21 AM
 
929 posts, read 1,046,912 times
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Quote:
Originally Posted by FirebirdCamaro1220 View Post
I was going to say that, I refer to that whole section of town from 16th St to 23rd Ave between Buchanan and Durango as "The Barrios". It's too close to downtown to not be gentrified. I live in Eastlake Park right now, right at the 12th St Light Rail Stop, and have seen how it's been turned around in the last 15-20 years, I expect that when the South Central light rail line is finished and open, is when the turnaround begins for "The Barrios"....
Most of the area you are talking about is referred to as Central City South (everything between Central, Grant and the I-17). I think a lot of that area would have the potential to gentrify but the thing that will massively hold back any renewal is the huge percentage of that area that is occupied by Housing Projects. Between Marcos de Niza, Henson Village and The Coffelt Jets that is a lot of area that can never be sold or revitalized unless the city were to demolish those projects.

And the area you were talking about East of there (East between 7th St and 16th St), well that used to be 3 separate neighborhoods. Golden Gate, which is completely gone. And the Barrio Campito and Las Cuatro Milpas which are both getting smaller and smaller. To my knowledge the city is buying the dilapidated houses from the (typically) poor people in these neighborhoods and then completely demolishing them and leaving tidy but vacant lots. I believe that the end game for these neighborhoods is that when the city has finally bought all of the lots they plan to use it to expand the airport.

This (link below) is a pretty interesting article on this in regard to the history (and future) of Phoenix.
https://barriozona.com/a-vanished-ph...n-16th-street/

EDIT: So as it applies to buying property in a "gentrifying" area for financial gain, stay away from The Campitos and Milpas because those are dying neighborhoods (Between 7th St & 16th St and the train tracks and the I-17).

Last edited by WSPHXPELON; 12-23-2017 at 11:33 AM..
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Old 12-23-2017, 11:33 AM
 
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Likely the neighborhoods between 7th Avenue and 19th Avenue between Van Buren and the 10 and between 7th Street and 16th Street between Van Buren and the 10. Downtown is becoming very pricey for most renters of average means. Even the older apartments from the 1950s and 1960s in the immediate downtown area are charging extremely high rents. I can see renters who want to live near downtown, who don't want to or can't pay $1200+/month for a studio or a one bedroom, moving into the currently run down areas east of 7th Street and west of 7th Avenue.

I think it will take a little longer, but the extremely poor areas immediately south of downtown, between 7th Street and 7th from Lincoln to the 17 Maricopa Freeway will be up and coming within the next 10 years or so.

Also, the weird industrial/residential/commercial strip adjacent to Washington and Jefferson east of downtown will be up and coming too.
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Old 12-23-2017, 03:58 PM
 
Location: Phoenix, AZ
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^^^thanks for all of the good info, people. I realize right away this stuff is above my head. I need to get out and learn some of these neighborhoods. Staying in suburbia all of the time like I do doesn't broaden my horizons enough.
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