|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.
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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Friday, August 30, 2013
WBJ | Gentrifying: Like it or not, these neighborhoods east of the Anacostia River are showing signs of gentrification
on 3:07 PM