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Monday, 6 October 2008

A 'Neigbourhood' Increases Property Values !'

Interesting item in the CoolTown Studios. They're looking at a 2007 Portland study of certain retail amenities and how they impact neighbourhood property values.

Top of the list: Neighbourhood cinema (14-30% increase); Specialty grocery store (20% higher); Wine bar (11-21% increase).

It's an interesting read with links to the report and other articles.

Sadly "marginally used former inter-city bus garage" and "abandoned bread plant" aren't on the list. Sigh...I guess I will never know !

3 comments:

unclebob said...

How might conversion of apartments to condos do? You have a few of them! We also have a city wide occurrence of this. I suspect it may chase away young folks but have never seen data

mrchristian said...

everything in measured doses, though. Apartments to condos can be a great way to increases ownership in high rental areas and can be a good entry level into the property market for young people.

Too much and, you're right, you can end up stifling that influx of young people.

The Village, though, has a pretty good mix. It's stayed relatively young and "bohemian" through the decades as the area around it got more condo-heavy and white-haired.

The Rise and Sprawl said...

Where do expanded convention centres, worldclass heritage parks, health bureaucrat offices, boutique mo-tels rank?

Interesting, however. I wonder if the re-opened Park Theatre had an impact on property values in Riverview/Lord Roberts.

-RG