Development in Point Breeze is already moving west

25th & Ellsworth – Point Breeze

 
If you recall a recent post that I did on CHOP’s new development in/around Graduate Hospital / Point Breeze / Grays Ferry, my point was centered around the PB/GF neighborhoods and the importance of securing anchor projects (like CHOP’s).

Now whether these anchor projects are residential or commercial at this point is moot, because what this area really needs as a whole is a stiff jolt in the arm; new growth. That jolt is productive development that will enhance the local micro-economies of both PB + GF, and increase the population in/around these neighborhoods without jeopardizing the stability of its current residents.

Tall order, but this is a start.

What this small’ish, residential project really does is increase the likelihood that Grays Ferry will indeed become a fringe/spillover neighborhood, at some point in the not-to-distant future, to G-Ho. In fact I believe a development such as this is so important, that it can potentially expand existing neighborhoods (like what has been happening in Kensington). Hence, GF + PB = G-Ho Spillover.

This past post will also shed some light on why I feel this may be happening.

The other reason why I believe this project may create what I am now officially dubbing the “No-Libs Effect,” is because it is being built right next to a huge neighborhood barrier: 25th Street’s Elevated Train Trestle. This concrete monster is as visible a neighborhood barrier can be. Not only is it a pain to drive/navigate under, but it completely separates PB from GF; literally.

Building on the border, and next to an active train line, may actually be the first step toward the growth of these 2 neighborhoods. It will also help legitimize Philadelphia’s identity as an up-and-coming, modern city that’s changing for the better.

Philadelphia has been recognized as one of the “10 Most Exciting Cities in America”

LOVE Park, Philadelphia

 
I’ve never seen this poll/ranking category before (brought to you by Movoto.com), but it looks to be pretty legit. Not in its title so much, but in its methodology.

And I’m not being biased because Philly made the list … just sayin’.

If you scroll to the bottom of the article, it clearly maps out what categories they chose for the US’ biggest cities, and what makes them exciting (or not). Most of the time with rankings, you really don’t know what criteria is being used to do so; you just see the title.

Here, you do; which helps with legitimacy, IMHO.

Philadelphia has been getting a lot of good press lately (as you have probably seen from my past posts), and here’s just another example of how the city as a whole is improving its image: locally, nationally, and internationally. Not only that, Philadelphia is improving on its functionality as a thriving, diverse, and exciting city.

Read on to learn more about our latest accolade.

Sales are up, prices are up, and supply is down

Click to Enlarge

As you can see from the above graph, real estate is picking up in Philadelphia.

Not only are prices rising, but the biggest highlight is that supply is down … drastically (for both Total Homes For Sale and Months of Supply). Very good signs that things are improving from 1 year ago, and that the market is shifting from a “Buyer’s Market” to a “Seller’s Market.”

Positive news for Philadelphians.