According to the real estate professionals at National Realty Investment Advisors, Philadelphia is truly a city like no other. In many ways, it has always been that way. Philadelphia was the nation’s first capital. The City of Brotherly Love has a history as long, as rich, and as special as any town in the country and it also happens to be property investing hot spot.
“More and more property investors are seeking space in beautiful, culture-rich, and historic parts of the country—neighborhoods that carry the weight of the past but have a charm that translates into the present day,” says Adam Levine Asst. Project Manager at NRIA. “As such, the unique and historically significant neighborhoods in Philadelphia are making this place a true go-to spot for property investors.”
Philly Offers Historic Charms
That Philly can boast an array of eclectic neighborhoods and communities almost goes without saying; according to CenterCityPhila.org, “Philadelphia has a vibrant live/work 24 hour downtown, surrounded by neighborhoods, each with its own character and atmosphere. These walkable neighborhoods, all with excellent transit access to downtown, offer diverse choices for people of all ages and at all stages of life with easy access to jobs, cultural venues, great shopping and day-to-day amenities.”
There are a number of historic Philadelphia neighborhoods that attract the attention of property moguls; look no further than to Old City Philly. An article from Philadelphia.com summarizes its old-school charm: “As its name might indicate, the Old City neighborhood of Philadelphia is the great grandfather of the city, a tightly packed web of historical buildings founded on the banks of the Delaware River by William Penn and his Quaker followers in the late 17th century. Elfreth’s Alley, a tiny nook off 2nd Street that is popular with tourists, features row houses that have been continuously occupied for 300 years. Elsewhere in historic Old City, visitors can see the Liberty Bell, Independence Hall and the house where Thomas Jefferson drafted the Declaration of Independence, all fitting reminders that blue-collar Philadelphia was once America’s capital city.”
For every property investor and for every homeowner looking to live close to the Old City, however, there are likely several more who gravitate toward Philly’s suburbs—also rich in history and rife with character.
Philadelphia.com highlights the Chestnut Hill and Germantown areas, in particular—two of the most popular locales in suburban Philadelphia. “The Chestnut Hill and Germantown neighborhoods have long been synonymous with suburban gentility,” the site notes. “With the northern stretches of Fairmount Park and the University of Pennsylvania’s majestic Morris Arboretum nearby, residents of Chestnut Hill and Germantown have nature’s splendor at their fingertips. As if they could ask for anymore, joints like the Rib Crib at Germantown Avenue and E. Duval St. offer straight-up Philadelphia fare as well. With its combination of spacious residential comfort and Colonial-era Philadelphia character, Chestnut Hill and Germantown would be ideal neighborhoods to make a home, if you have the money.”
Up and Coming: Queen Village
While these areas of Philly are well known and popular, there are other neighborhoods that are only now coming into their own. One of the most promising areas is Northern Liberties which is quickly becoming one of the most elegant communities in the entire city—in no small thanks to the investment of companies like National Realty Investment Advisors.
Another is Queen Village where NRIA is currently building a 75-unit townhome complex on what is the last piece of raw land on the Queen Village waterfront. Called “Bridgeview at the Waterfront”, the new SOLD OUT complex is set inside the single oldest historic neighborhood in all of Philadelphia.
“This is one of those areas that is rich in history and really had no more raw land. We obtained one of the last great lots at a tremendous value “Art Scutaro Senior Project Manager points out. “This thriving old time charming neighborhood is now further enhanced by the stellar new construction contemporaries the people of Philly yearn for and we are proud to be developing the most desired and attractive homes in what will likely be the last development project Queen Village sees for the foreseeable future since there is really close to no more raw land.”
The National Realty Investment Advisors team is nothing if not well acquainted with these historic property developments and niche specialty neighborhoods of “up and comers”. Even by the company’s high standards, though, the new Waterfront development is massive—and in fact, it qualifies as the largest townhome project to come to Philadelphia in the last five years.
The new townhome complex encompasses a full 150,000 square feet and perhaps surprising for a project of this magnitude, has received the full support of the city, even winning unanimous zoning support. All of the homes have already been sold, so the NRIA team encourages interested parties to inquire about renting opportunities in the Spring of 2015.
The bottom line is that the uniquely historic neighborhoods of Philadelphia are not only desirable to residents, but they are wildly in demand among property investors as a direct result. The team at National Realty Investment Advisors would not have it any other way: “We’re proud to play our small part in cultivating the vibrancy of this great city,” the company concludes according to Rey Grabato Sole Managing Member.
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