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South Philly is the place to be … for real.

Avenue of the Arts – South Broad St | Philadelphia

 
Bold title … I know.

**Please Note: For the South Philadelphians who already love where they live, I mean absolutely no disrespect. Think of my title as more of an educational tool for those who are not familiar with your awesome neighborhoods.**

I am a firm believer in the current South Philly Phenomenon, which is something I just coined (feel free to share it, as needed). From Bella Vista to Queen Village, Passyunk to Pennsport, and Grays Ferry to Point Breeze; you’re all on the hot seat!

South Philly is a big part of Philadelphia, especially when compared to Center City (on the map, just above it). Take a look at the map below to see how large South Philadelphia really is:

Kind of a terrible map, but it had SP already highlighted; couldn’t resist.

 
Not only is SP a big chunk of the city, but it’s probably one of the city’s densest sections as well. The standard SP home is a row, but you can also find twins. 2 stories is the norm, but there are plenty of 3 story homes as well.

Now, back to my title. Why do I think South Philly is the place to be? Here are a few reasons why:

1. Location, Location, Location: The #1 rule in real estate holds especially true in South Philadelphia, and SP may just have the most convenient location in all of Philadelphia proper. SP is currently in the middle of Philadelphia’s top 3 employment zones: Center City, University City, and The Navy Yard. It’s also super-close to Philadelphia’s top 2 entertainment zones: Center City and University City (sorry NW Philadelphia, you know I love you). South Philly is close to all major highways (I-76, I-95, and I-676), and it’s also close to Public Transportation (the Broad Street Line cuts right through SP’s 4 zip codes, and there are buses abound). Whether you are in 19145, 19146, 19147, or 19148, you are close to all that Philadelphia has to offer.

2. South Philly was built for the long-haul: In 1682, Philadelphia became the first US city to have a master, gridiron plan where highways/streets were planned first before real estate lots were sold. William Penn wanted to have wide streets (appropriate for the time, of course), public spaces (what’s up Rittenhouse Square, City Hall, et al), and he wanted the city to be in between the Schuylkill and the Delaware (for healthy living, and for transportation/commerce); smart dude. Even though SP was not incorporated into the City of Philadelphia until 1854, it was still built like a dense, urban neighborhood; the same is true today. But instead of SP’s dense neighborhoods and narrow streets being a negative thing, they now promote walkability, bikeability, use of public transit, and tight-knit blocks. In essence, what was once a horse/car centric section of Philadelphia has since turned into an urban paradise.

3. The homes were built solid, they’re easy to maintain, and affordable to most: 3 great reasons to buy a home in South Philly. In some neighborhoods, you can get a fully rehabbed 2-3 bedroom home for $100K. Not bad for being able to walk/bike to almost all of you daily errands. Oh, and you can probably walk to public transit, walk to work, and then walk to a restaurant/bar; nice. SP homes typically range in size from 1,000 – 1,500 sq ft. Now there are some that are even less than 1,000 sq ft, and there are some over 2,000 sq ft. All in all, they promote easy living (and smart/sustainable living too). The row homes attached to your left and right share heating/cooling elements when the weather is tough, the roofs are very easy to fix, and the yards are easy to maintain. Easy living all the way around, and affordable too.

4. Some of the best skyline views: Although South Philly was built on a denser scale than most of the city, it was also built on a lower scale as well. There aren’t too many tall buildings in SP, which make way for incredible skyline views (day or night) from almost any one of its many neighborhoods. Since the yards are typically small, a great way to spruce up your home’s curb appeal (and overall urban functionality) is to add a roof deck. They’re great for outdoor space, entertaining, stargazing, relaxing, or even gardening. Container gardening is becoming the norm in Philadelphia’s hip, dense neighborhoods.

5. Any sport you want to see is just down the road: There’s a reason why South Philadelphia is home to some of Philly’s best sports fans, and it’s because all of Philadelphia’s sports teams are just minutes away from their back yards. South Philly is a sports mecca, and it’s passed down from generation to generation where it becomes a way of life. Plus, you have all of the Italian delis supporting it as well; one big happy sports family! What better way to spend a spring/summer night (or a Sunday afternoon in the fall) then to have your flat screen TV, a fridge full of beer, and a hoagie (with a bag of chips, of course) from a South Philly deli (I recommend Sarcone’s, Chickie’s, or Paesano’s; but hey, that’s me). And don’t forget about the newly built Xfinity Live!, where you can dine out and enjoy a game.

Oh, and one last thing that’s making South Philly the place to be. Philadelphia’s Avenue of the Arts is on fire right now, and it’s slowly turning South Broad St into Philadelphia’s most famous boulevard.

Not only is Dranoff on his 3rd residential anchor project, but there are other large-scale developments popping up left and right.

And there you have it. That’s why I personally think South Philly is the place to be.

Morgan Hall has changed the face of Temple University

A face lift for North Broad St

 

 

Quite literally.

A lot of people don’t know this (including many Philadelphians), but Temple University is now home to over 35,000 students; that’s a big number for a dense, urban campus. Now, not all of those students are undergraduates, but 35,000 is an impressive number nonetheless. For comparison’s sake, UPenn has close to 25,000 students and Drexel also has close to 25,000 students.

So, if University City has over 50,000 students (with just Penn and Drexel alone), what’s next for the neighborhood in-around Temple’s campus? My professional opinion is that TU will soon become a Philadelphia “mini-hub” (just like Center City, University City, and the Navy Yard have). It’s only 2 miles from City Hall, it has a huge educational/medical/legal presence, and most of the campus has frontage on Broad St; all good things.

As a Philadelphia based real estate agent, my job is to know the local market and educate my clients on what is happening in/around the city. In Philadelphia, colleges play a large role in the city’s economic vitality. From student rentals to financial opportunities for real estate investors, Philadelphia’s colleges have a large daily impact on the entire Philadelphia MSA.

The reason I am blogging about this is because recent private/public development shows that the area in/around Temple is definitely on the rise.

Since I was an undergraduate student at La Salle from 1997-2001, I like to compare how things are today to how they were when I was in college. And in my days as a student, Temple was more well known for commuting than living on/around campus. Reason being, TU only has enough on-campus housing for 5,000-7,500 students (the last I heard; so don’t quote me on that, as the most recent figure was hard to locate), and you can’t live on-campus as a Junior or Senior.

This creates a huge off-campus housing opportunity for Temple’s 35,000+ undergraduate/graduate students.

All told, I think there are currently 12,000-15,000 TU students living on/around campus (again, don’t quote me on that as the numbers seemed to vary from source to source). In the grand scheme of things, that’s a pretty small number for a school of 35,000+. Which means there is more room for growth.

This is a big reason why the Temple University area is doing so well from a real estate perspective. Demand is high, and supply is low. It wasn’t until about 5 years ago that TU students created a strong, visible demand to live off/around campus; close enough to walk. Thus, real estate values have skyrocketed around TU in recent years (even during the downturn), and the boundaries for TU’s off-campus student area are expanding every year.

As you can also see from Temple’s 20/20 Plan, there is even more in store for their main campus in the years ahead.

Read the article about Morgan Hall, and learn how this university backed development project has changed the face of Temple forever.

New projects are increasing Philly’s curb appeal

Center City, Philadelphia | View from Penn Park

 
What is curb appeal exactly?

Well, according to Investopedia.com, curb appeal is defined as:

“The general attractiveness of a house or other piece of property from the sidewalk. This term is often used by Realtors trying to sell or evaluate a piece of property. There are many things that can increase the curb appeal of a piece of property. A new paint job, landscaping, and siding can go a long way toward accomplishing this. Though not as easily measured as something like square footage, curb appeal plays an important role in property valuation.”

This article lists and describes 5 projects that are changing Philadelphia for the better, in what they are calling a “cultural face-lift.” As an agent, I would call it curb appeal.

Curb appeal plays a big role in why someone would buy or rent a home. For starters, it’s their first impression of the home. Have you ever heard the expression, you eat with your eyes first? The same is true in real estate. Your impression of the exterior, yard, and block are the first things you digest (no pun intended) when looking at a home.

Hence, curb appeal is important.

That’s why I’m classifying these projects as enhancements to our city’s curb appeal. They make the city more attractive, and more desirable, to those who are looking to move here. Whether you grew up in the surrounding metro area, or you’re relocating from the west coast, Philadelphians are putting time and effort into making their city more appealing to the masses.

You can see the difference for yourself.