I am an agent and working with a couple of investors that have expressed interest in this particular part of Columbus. I'm not as familiar with this area as much so as I am the northern arc. I've heard comparisons to the former Short North area, but also comparisons to the Linden area.
Your input is helpful and I thank you in advance.
If I had to pick one, I'd say more like the former Short North in the late 90's. I do not see too many similarities to Linden.
What do you say about recent renovation has been going there?
will it get tax benefits like sought orchards?
@Sam Cerreta There are 2 parts to Franklinton; East Franklinton and Franklinton. East Franklinton is basically from the river to 315 and has pretty much been bought up by all the big developers in town. Huge plans for this area that will change it completely and will be like a new Short North with retail and apartments and bars/restaurants. West of 315 is Franklinton and is still a rough area. Mt Carmel West sits right up against 315 and they have released plans to change their campus as most of it is going down to their Grove City location that is almost complete. So I would tell your investors to stay as close to the hospital and as East as they can for the next couple of years. Most would think with all that is happening in East Franklinton, Franklinton would also benefit, but the fact that a highway is dividing the two, who knows.
Copying from another recent thread:
We buy/hold several properties, mostly on the West side of Franklinton, and there's a lot of difference between East and West. I'd actually say there are three Franklintons: (1) East of 315, where only big companies or very lucky small/individual property owners play; (2) West of 315 to Glenwood / the RR tracks, where flipping is more doable despite the pending departure of most of the hospital; (3) West of Yale / the RR tracks to I-70, where rentals are the norm. We own / are in contract on five doors in area 3, and circumstances vary greatly from street-to-street. We also just picked up a home at Sheriff's auction on Rodgers in are 2, which should be a great buy/hold for us once fixed up.
Our business model is to provide reasonably safe and affordable housing to low-income families, which isn't for everyone.
Let me know if you want to discuss further--I wouldn't mind sharing contacts / ideas. There are plenty of houses in area 3 to go around, and there's a desperate need for good homeowners / landlords.
If you grew up in a B class neighborhood, and stepped into Franklinton by Mount Carmel, you'd probably be scared. No joke. It's interesting to see what people are paying for flipped homes, right next door to a boarded up crack house.
I wouldn't be surprised if there are certain individuals setting the comps by creative means.
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