Friday, August 30, 2013

WBJ | Gentrifying: Like it or not, these neighborhoods east of the Anacostia River are showing signs of gentrification

I would really love to hear from readers their thoughts on the next few articles I will be reposting. In particular I would love to hear from Ward 8 residents.

P.S. Shout out to fellow Ward 8 resdient Brian Townes on having the courage to be interviewed for this article. I appreciated his comments, sincerity, and honesty. Brian has always been  dedicated and focused on giving his all for the community and I appreciate him giving of his time. He is a valuable member of Ward 8 and I wish him much success with his real estate projects!  :)

Go HERE to read the full article by Michael Neibauer.

Brian Townes, a six-year resident of Congress Heights, sees it everyday, yet he remains optimistic. Townes is playing the real estate investment game, and it’s paying off.
“I think I’m in on the ground floor of something good,” said the investor, who is also a Realtor with Central Properties and owner of three Congress Heights buildings. “My property values have doubled since I bought them. Rental income is paying for all of my houses.”

Despite soaring property values — the median value of a single family home in Congress Heights rose from $89,003 to $225,440 over the last decade — residential housing still comes relatively cheap east of the river. Townes has a contract on a Barry Farm condo for $35,000. He’s renting a one-bedroom unit for $650, a two-bedroom unit for $1,000 and a three-bedroom rowhouse for $1,800.
It’s not happenstance by any means. Congress Heights is one of 18 D.C. neighborhoods, as defined by the District’s real property tax office, that pure data suggests are “transitioning” — or, in other words, “gentrifying.” Eight are east of the river: Lily Ponds, Deanwood, Marshall Heights and Fort Dupont Park in Ward 7; Anacostia, Barry Farm, Randle Heights and Congress Heights in Ward 8.

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Brian said...

Thanks Nikki. You were one of the first people I met in Congress Heights and something about you and your commitment to this neighborhood really impressed me. I sincerely hope that you do not decide to leave, Congress Heights needs you.

StringsAttached said...

I hate to say it but it's just another run of the mill "East of the river is up-an-coming area" article. To anyone that is following the news about the area there's nothing new to gain from it. For those of us living the reality of purchasing homes in the area and coming in with higher educations and starting families, it's nice to know we're not alone. It's easy to see the ratchet actions of a few on the streets, but much harder to realize that there are many others that are working hard each to day and coming home to their properties EoTR.