What neighborhoods need the most love?

Question

Hello All,

I'm curious as to which neighborhoods in philadelphia do you think need the most influx of redevelopment in order to be the next Rittenhouse Square? I'd love to see Tioga and Nicetown become the next neighborhoods to be up and coming markets. With the new developments going in around Tioga Park I believe that the north/northwest neighborhoods are the ones that need the most love in order to connect with city center. It almost feels disconnected as it is. I'd love to hear what areas you think need it most.

Victoria Pham · Answer

@David Lorenz, I think South Philly areas are all growing. 19148 and 19147 are more established neighborhoods so the growth is slower but still growing. 19145 and 19146 are growing faster!

Alex Uman · Answer

@Matthew Carfaro the surrounding areas have definitely experienced growth and will continue to grow due to Covid. In terms of investor driven growth though, I think the more southerly areas of Delco (Aldan, Collingdale, Lansdowne and Glenolden in particular) will experience more of the growth as they have more room to grow than the more established Main Line burbs. That being said, I still see Philly as a great city to invest in with many newly appreciating areas.

Nancy L. · Answer

I think Nicetown is interesting because it has revitalization energy coming from the south from Temple and N Broad St, as well as from the northwest with all the exciting development happening in Mt Airy, Germantown, and Wayne Junction areas. The new brewery in Wayne Junction is right on the Nicetown border, as is the Wayne Junction transportation center which offers a fast commute into downtown. Will be interesting to see what happens there for sure.

Account Closed · Answer

@Adam Garner Those are some pretty interesting articles that you've tagged. Check out what's happening in Tioga. https://www.tiogaparkphilly.com/projects

Adam Garner · Answer

Kensington (near K & A), Fairhill, & Nicetown.

There are two commercial development projects proposed / under construction in Nicetown. See below:

https://www.bizjournals.com/ph...

http://shiftcapital.us/project...

Matthew Carfaro · Answer

@Alex Uman I would agree with that. I am looking for my first investment and I am looking into those southern Delco areas because of the higher Price/Rent ratios than the traditional Main Line towns. I too think Philly as a whole has a lot of room for growth and investing in any of the " up and coming" areas is a good choice

Alex Uman · Answer

I agree with you both. Nicetown has long had a reputation for not being very nice. With spillover appreciation from surrounding areas, I could see the area slowly gaining favor in the eyes of investors wary to put money into that neighborhood. As Strawberry Mansion has slowly become a new favorite area for investors, Nicetown may experience more of that spillover. In the end only time will tell. We now invest in neighborhoods that many wouldn't enter ten years ago.

Account Closed · Answer

@Victoria Pham I can’t wait to see the turn that’s rightfully deserved! The north from 19125 and 19140 could really be key turning points. If you could connect the north, to the universities and center, I think the plane for development and equity opens up many opportunities for growth.

Rich O'Neill · Answer

@Alex Uman I agree, but my concern is the potential for the path of progress to move from center city into W and SW Philly, pushing some of the blight from those areas into southern Delco. I am already seeing some of that in Upper Darby (my analysis of the situation, not necessarily fact). I am also concerned that the blue collar workforce of those areas could be in trouble with job losses (especially with airline workers), which could ultimately lead to foreclosures and value depreciation.

It could go the other way though and people moving from the city could see value in those areas with lower purchase prices (especially per sqft), less density, no local income tax (in most boroughs), and an ability to easily get into the city if they needed to by public transport or car.

For what it's worth (not much), Zillow estimates in a lot of those zipcodes predict value increases 3-5% in the next year.

I think one or the other is going to play out in the next 5-10 years. Curious what others think.

Max T. · Answer

@Christopher Schink

The whole point of the NW is to be separate from the city center. That is why it was created hundreds of years ago and what makes it special now.

What neighborhoods need the most love?

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