Prices of Units Here: Avoiding Gentrification?

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This topic contains 1 reply, has 2 voices, and was last updated by  cartwright21 3 years, 10 months ago.

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  • #340


    I am curious to hear about what the intended prices are for the residential units here.

    One of my major concerns is to prevent gentrification of this area. One thing that drew me to this neighborhood was its lower cost of housing relative to center city and even areas farther northeast in West Philly/University City. I’ve seen my rent increase both years I lived here, and my friends who live here have also seen their rent increase–for some people, at a higher percentage than what I’ve seen, and a higher percentage than inflation.

    Beyond a certain point, high rents will drive me out of this neighborhood. I’m an entrepreneur who derives my income from activities that are not very much location-dependent, and cost of living is a major factor in me choosing where to live. It’s one reason I’m living here and not in a city like Boston, D.C., or NYC. It just doesn’t make sense for me to live somewhere that’s too expensive.

    The last thing I want to see is development that drives up the price of housing in any way. Not only does this drive me out–but it also drives out the diversity that attracted me to this neighborhood in the first place. I’m attracted to this neighborhood not only by the low cost of housing, but by the businesses and restaurants that cater towards people who, like myself, are more cost-conscious. I don’t want to see high-end development that attracts people who want to shop and spend money at businesses that are out of my price range, because then I’ll see the whole neighborhood change in a way that I don’t like.

    I would ideally like the prices in this unit to be towards the low end of prices for units in the neighborhood. I want this neighborhood to stay affordable because I think this is essential for preserving its diversity and appeal.

    1. #461


      I was wondering too about the price of unit here ,cause in my place in Finland most of the unit are very expensive specially at where my friend bought a unit in a very expensive price.

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