How many of you have ever created intentional communites, with the intent of either selling or renting and what has your experience been?
I'm in the middle of my first project of having started a creative/artist community and it has changed the playing field for me.
This is in a so-called D neighborhood, where I've been investing since the market crashed. Most investors didn't want to touch properties here. Crime, vandalism during vacancies, low-income etc. But location is absolutely key.
Anyway, so, I was able to collect adjoining properties and got another investor involved, who also bought a few, so, now we have almost the whole block. Everything's fenced and we have added a gate.
The people we attract are not the ones normally living in this area. We are getting people from all over, who are drawn to the creative aspect and the community part. They want to interact with other creatives. Most aren't scared of the neighborhood (but probably wouldn't rent a single family home here by themselves) and aren't even thinking about this being a D neighborhood. They're so drawn to the value we've added by making this an intentional community and having everything feced, and thus safe, that that doesn't come into play.
We get higher rents than what the surrounding neighborhood offers, but they're lower than in other, perceived as safer, neighborhoods. Because everything's fenced and everyone knows each other, we hopefully don't have to worry about people walking in and stealing everything they can. We can change the neighborhood's stigma from being dangerous to being cool. And those artists living here will bring friends in, who might also start renting or buying around our block.
I really love the way this is working out, that I'm actually going to renovate the last unit of this property for myself, because we're attracting so many awesome people that I want to be part of this community as well.
That's awesome, Michaela!
You are kind of self-gentrifying a neighborhood. Next thing ya know, boutiques, coffee and wine shops will be popping up.
Congrats and please keep us posted!
@Steve Vaughan, lol....wouldn't that be nice.
I love win-win situations and I really hope that my little community here can make a difference to the neighborhood.
So, I"m giving an update on this. Have now acquired some more adjoining parcels half a block from my creative community and am renovating the houses there to create the 2nd community. Both of them are walking distance, so I can put some things onto the 2nd one that don't fit onto the first one, like ping pong table and monthly potluck and movie night or whatever.
I have a triple lot that's sort of in the middle and I'm fencing that in right now and it will be parking and community space.
Oh, and the neighborhood is absolutely booming right now. Investors are buying everything around me and they're breaking ground on a major development of a 32 acre parcel across the street from y 1st community.
I'm now also selling some of my homes that are on the north side of this neighborhood, so that I can buy more on the southside, close to my 2 creative communities. Everything around here is shooting up and it's awesome to have been ont he front end of it.
creating intentional communities, with the intent of either selling or renting and what has your experience been?
Interesting concept. Another possibility for that would be for people with Chemical Sensitivity. Might be more do-able in apartment housing. Most of the tenants would almost definitely be on Section 8. Due to their disability, they would not be able to work. And the need is, I think, great. Check your local MCS/EI groups or google MCS communities for info, to possibly find out the need in your local. Here's one link that might help you. http://reshelter.org/safer-housing/communities/
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