Terraforming, would you? (investment, price, offering, build)

[recuerdeme]

Whenever I think of gentrification I think of terraforming. It's kind of the same thing jej.

So my question is would you be willing to be the starter in a gentrification movement of a neighborhood?

I recently found affordable land close to the downtown area. Not the greatest part of town but not too bad (really if you want cheap land you only can get the pits of the city or outside of the city from my pov). A few blocks down the street new pricey homes are being built so I'm thinking I might just start the uprising of this neighborhood... if you build they will come right? Hopefully "they" are people with good income and not criminals. At any rate I think the area I'm looking in has potential... being that there are like 5 vacant lots on the street so it wouldn't be me in the mix of nothing but shabby places that don't want to sell..

Eh anyone bought into a transitioning neighborhood? Experiences? Likelihood of this being a good investment? Buy the other vacant lots?

[chet everett]

Very different experiences depending on WHERE you are and what the economics are/will be.

In a general sense "teardowns" are very different that true "urban renewal" as one is more of play on offering homes that are more desirable while the other is more a focus on getting rid of ALL the elements that make areas undesirable. One person can do the first, it takes a heckuva lot more to the latter...