What’s the Next Market You Should Invest In? Here’s One Possibility.
Today’s post comes from Ashley Santee, a Real Estate Agent at Houwzer.
It’s a sellers market in Philadelphia and if you needed any more affirmation, well,
here it is. Now that your Aunt Marge in Havertown is talking about buying a shell in Grays Ferry, it’s probably safe to say the collar neighborhoods of center city no longer hold the same investment potential they once did. Not for long, at least.
Where are the early adopters to go now that Point Breeze, Brewerytown, and Port Richmond are picked over? My proposal? Strawberry Mansion.
The suggestion seems crazy – laughable, almost. Strawberry Mansion is considered
one of the most dangerous neighborhoods in the city. That being said, it might just
be the best long-term investment option.
Hugged by Fairmount Park to the east and adjacent to Brewerytown, Strawberry
Mansion is a ten minute commute (20 min via bus) to Center City. Historically a
middle class Jewish community, the neighborhood is chock full of expansive homes
with turrets and views of the park.
Kenney recently proposed a hefty plan, which included the revitalization of parks
across the city and the conceptual designs for The Discovery Center, an outdoor
youth education center at the west basin of the east park reservoir, were just
approved. Indego, Philadelphia’s bike-share system, is adding stations to the
neighborhood in 2016.
The future for a blighted Strawberry Mansion could be bright. Buy and hold.