Highlighting One Of Memphis' Oldest Neighborhoods

Investing In Memphis Real Estate When There Is So Much Diversity

Trying to pigeonhole a city can be difficult, particularly when that city boasts as much diversity as Memphis does. How can one ascribe an overarching personality to a city made up of so many distinct neighborhoods?  It gets even more difficult when you start looking at investment real estate in such a city.  Not all neighborhoods and areas are created equally and not all areas are good for investment.  That is why knowing a neighborhood and the "vibe" it gives off is so important.

Classifying a neighborhood, in relation to its history, personality and the amenities that attract people -- now that's a different story. A neighborhood can have a "feel" to it, a vitality and a personality that's all its own. So it's fair to say that to truly get to know a city, one has to get to know its neighborhoods, and Cooper-Young is as good a place to start as any.

Cooper-Young -- named for the intersection of Cooper Street and Young Avenue -- is a funky, eclectic neighborhood and historic district in Memphis's midtown. It's home to over 1,600 households, over 200 businesses, two schools, twelve worship communities, and one very kickin' annual party. The Cooper-Young Festival is an annual outdoor event featuring live music, arts and crafts vendors, food, and a whole bunch of fun.

Its historic architecture and hip combination of arts, entertainment, and commerce helped to land Cooper-Young on American Planning Association's 10 Great Neighborhoods in the U.S. in 2012. APA CEO Paul Farmer's statement about Cooper-Young points to the neighborhood's 
ability to keep its identity in changing times: ""Even as reinvestment transforms its commercial corridor into one of the city's top entertainment venues and residences continue to be rehabbed, the neighborhood remains true to itself."

That kind of balancing act is no easy feat, and it's one that Cooper-Young takes very seriously. Creating a neighborhood that's more than just a collection of addresses is not something that happens by accident. The Cooper-Young Community Association focuses its efforts on beautification, safety, code enforcement, and general community-building.

Cooper-Young is the model of what can happen when a group of citizens takes a mindful approach to developing and shaping their neighborhood's destiny.  It does not mean that it will necessarily be a great place to buy investment property, but I have had some success in this area.  Like any place else, the Cooper-Young district is a defined area.  Just being "near" Copper-Young does not mean you are in Cooper-Yong and I have seen investors get burned by purchasing investment property that they thought was the Cooper-young district only to find out that being near it is not like being in it!  These kinds of great neighborhoods are found in every city of America.

Have you spent time in Cooper-Young?  Do you have similar neighborhoods in your city and do you invest there?  What, if anything, do you think other communities can learn from this Memphis neighborhood?