In our series Where to buy real estate in 2013, I review up and coming neighborhoods where great deals are still easy to find. So I wanted to update a neighborhood that was up and coming 10 years ago, but is very established now, Fairmount/Art Museum.
This neighborhood divided from Center City by the Vine Street Expressway was not too long ago home to the best priced Philadelphia real estate near downtown. Once a Whole Foods opened, a Philadelphia Sport’s Club and a Starbucks right in the heart of it, it formally arrived and so did the increase in prices, nearly doubling per square foot in only a few years.
Additionally, it had an amazing neighborhood association that helped and continues to help neighborhood residents.
The Fairmount Community Development Corp. has been dedicated to making the Fairmount neighborhood and surrounding areas grow for the past decade. Their efforts of developing many projects and cultivating local commercial growth have paid off well and Fairmount is thriving.
One of the ways the Fairmount CDC is involving residents in the development plans is to hold a session of town-hall meetings to hear their opinions. The meetings will be held at Bache-Martin School at 22nd and Brown Streets on October 6 at 10am and Fairmount Civic Association at the Philadelphia Mennonite High School at 860 North 24th Street on October 25 at 7pm.
Over the past three years, the Fairmount CDC has invested about $30,000 to make small improvements to homes that run between Poplar Street and Girard Avenue and 20th Street and Fairmount Park. Their goal is to improve the aesthetics and physical environment of the neighborhood and to increase the worth of the Philadelphia real estate market within the neighborhood.
If you happen to buy a home in any up and coming Philadelphia neighborhood be sure to join and volunteer in your neighborhood association. It may just help your investment get a greater return!