Gasoline for the Lawrenceville fire

My post one week ago about Lawrenceville economic development is a pretty serious contender for “most comments ever on the Pittsburgh MetroBlog”, and the argument’s still smoldering along at about one comment a day. So, let’s throw a bit of gas on it. My fellow CMU eggheads have determined that Lville house prices are rising about 8% per year, putting it in second place in terms of appreciation rates. One can easily argue that this means the Corporation’s strategy is working: there’s increased demand for those homes, which means more money coming in, more homes being renovated, and a general improvement in the state of affairs. It’s certainly better growth than I expected just based on the Design Zone shops we were shown, which lends credence to the claims that there’s a lot more going on that I didn’t see on my brief tour.

So, is this study proof that the nay-sayers are just engaging in Pittsburgh negativism, or is there something more here we’re not seeing?

4 Comments so far

  1. Frank (unregistered) on November 4th, 2007 @ 10:16 pm

    One thing’s for sure–someone is doing something that’s helping Lawrenceville, which is more than anyone who engages in Pittsburgh negativism can say.

  2. Gloria (unregistered) on November 5th, 2007 @ 1:46 pm

    How big of a factor do you think the new Children’s Hospital is in our rising home prices? As a Lawrenceville resident I’d say it’s significant.

  3. Alik Widge (unregistered) on November 5th, 2007 @ 7:39 pm

    I didn’t know you lived in Lawrenceville, Gloria. That’s an interesting tidbit — I’ll have to ask you more next time I see you.

    At any rate, you’re of course right. New hospital = lots of residents and other people who work long hours and need to live close by. Of course, that’s not a bad thing, because it also means lots of people spending money in neighborhood businesses.

    And hey, maybe all those docs will stop and shop at the fancy boutiques…

  4. Ken (unregistered) on November 6th, 2007 @ 8:00 pm

    i dont think anyone can fathom the amount of changes that will begin to snowball once the hospital opens in the summer of 2009

    it is 5 blocks from me, and even though they are building on site parking garages, and one satalite lot a mile away…i am sure finding your favorite parking spot is not going to be as easy as pre-hospital days, i just hope you have off street parking.

    there will be a need for more places to eat, more places to shop, added time in the allready thick rush hour traffic

    to awnser the question, and also in addition to what the post gazette was reporting about the annual 8% increase in value each year….i do believe the value will go up…but how far we will just have to wait and see.

    i am anxiously awaiting for it to begin.


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