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Reply to "Worried About Buying EOTR"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I don’t think EOTR will ever gentrify like Shaw or NOMA. If it does, it’s 10-15 years away. Prices have gone up, yes, but they will level off. In 3-5 years there will be a generation of yuppies who moved to row houses and discover that it’s not enough room with kids. You’ll get another opportunity. [/quote] I guess it depends on your definition of "like Shaw or NOMA," but you are either very right or very wrong. If you meant it will never have the concentration of bars and restaurants and the like, you are absolutely right. There are very few places if any EOTR that have the density to support it even if the demographics here looked like Upper NW. If you want evidence of this, just look anywhere in upper NW: huge incomes and house values but all the retail is concentrated into corridors that are several blocks away from each other. That is what I imagine most places EOTR are going to look like in 10-15 years, though obviously not as upscale. Now if you meant it will never have the income/racial makeup that Shaw or NOMA currently have, that I very much disagree with. Shaw currently has a median HHI of $84,000 and is 50% black, 30% white, 11% hispanic, and 7% asian. I would be pretty shocked if many areas EOTR weren't comparable to that in a decade.[/quote] buuuut big buildings are going up EOTR: https://dc.urbanturf.com/pipeline/590/20012027_Martin_Luther_King_Jr_Avenue https://dc.urbanturf.com/pipeline/398/2255_Martin_Luther_King_Jr_Avenue_SE https://dc.urbanturf.com/pipeline/478/Reunion_Square The buildings will increase density and residents will certainly support bars and restaurants..[/quote]
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