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Originally Posted by eschaton
A rising tide will lift all boats in the longer run. I mean, I've seen plenty of hilly neighborhoods in San Francisco which are quite desirable. Not to mention some of the hilltop areas have their own amenities (e.g., the Brownsville Corridor) which should be appealing in terms of reinvestment.
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As an aside, very little of San Francisco is anywhere remotely as up and down as most of the Pittsburgh. San Francisco has a lot of long slopes, but Pittsburgh is full of ravines, which have a very different atomizing effect.
But anyway, rising citywide tides don't always lift all neighborhoods. For example, I would bet once we get 2020 Census data, the City will be up in population since 2010, but some neighborhoods will be up a lot, and others will still be down again. Maybe that still counts as "shorter run", but I think there is likely to be a lingering problem driven by things like the availablity of walkable rapid transit, relative isolation, and so on.
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Most of the negatives on this list are equally true for the Strip District, which is white hot right now for development.
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The Strip, like the South Side, is a flat riverfront area with no intervening high speed roadways. I do think that makes it more naturally attractive for development than Uptown. That said, I think Uptown is going to come along, and at least by now I think it has more of a landbanking problem than anything else.
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I think the railroad tracks provide a psychological barrier which will be hard to cross.
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I don't know--the new houses in Homewood along Finance street, on the "wrong" side of the tracks, are selling quickly for like $145K. I think there may only be two left.
The funny thing about psychological barriers is that being psychological, they can disappear rapidly.