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April 16, 2008 by jessebkaye
5 Responses to “Post 5 Fastest Areas for Equity Growth”
Love the new video postings!
I’d like to propose another area to add to the list with potentially strong equity growth for the next 3-5 years…the area near the Rhode Island metro station east of the tracks into Brookland. There is strong retail potential along Rhode Island Ave and along the tracks (with the empty warehouses and car repair shops) and good housing stock with a nice mix of row houses and detached. There is also currently strong demand for renters in the area with its proximity to Catholic and Trinity. My 2 cents.
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Neither of you strongly like the Ballpark district for long term equity growth?
What about Petworth?
I’d be interested to know the total development costs of new residential, commercial, and office recently built or coming online in the next three years in Columbia Heights versus H Street (or anywhere else in the city with a lot going on). That would seem to be a very revealing snapshot of what the market thinks is the best place for investment.
I would personally put Petworth a bit further down the list. Besides Georgia Ave on the “Great Streets Initiative” there isnt much going on there over the next 2-3 years. Once Curtis Chevrolet has figured out what they will do it will move up much faster!
I personally didnt put the ballpark district on the list because it has already had its growth phase. I dont think it will see as rapid a return as some other areas in the immediate future.
Nathan,you are exactly right about Rhode Island. Doug Jemal, my favorite developer, owns everything behind the Cavalry Church School on 6th & RI. Once he applies for his Planned Unit Development its going to be #1 or #2 on my list.
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