Baltimore's Westport: Get In on the Entry Level
I suppose if I were selling stocks and had the advice of Warren Buffet, or perhaps if I were talking of a growing company that were moving into the area and hiring, then this might sound like something to which one should listen. But no, it is neither of those, but rather it is a neighborhood. Baltimore City is an old and established city, so you may be wondering how you could get in on the entry level. It is very simple; I am talking about the renaissance of a neighborhood.
Westport is on the south side of Baltimore City and an initial look at this region would send one running. But, slow down, there is a lot more to this neighborhood than meets the eye.
Westport is one of Baltimore City's last residential waterfront communities. An enormous development is underway which will completely transform the waterfront regions of the neighborhood.
Already the light rail stops directly in the center and along the waterfront which allows for easy and accessible transportation south to BWI International Airport and North all the way to the industrialized Hunt Valley region of Baltimore County. About a half mile north is the hugely popular ball fields of the Ravens and Orioles.
On the map, the area looks isolated from the very popular Federal Hill and other South Baltimore neighborhoods, which are surrounding the Inner Harbor, but that too may change in more ways than one. First there is an old turnstile railroad bridge which may be converted into a pedestrian and biking path which would be directly connected to Riverside Park, which is just south of Federal Hill. Second, the planned development, which is already underway, will be as big as the Initial Inner Harbor project. Plus, as an extra benefit, with today's concerns and today's technology, it will be one of the most "Green" projects in the entire region.
Shops, restaurants, condominiums, apartments, and such are all planned for this project.
But how can you get into the act? The old rowhomes, which currently exist in this, otherwise, downtrodden area are ready for the slightly speculative buyer. Many of the homes in design and size are similar to those of Canton on the east side, where a nice home may sell for easily over $200,000 and then some. However, these homes are priced at closer to $70,000 and less. Some of them are liveable as they are, while some need renovations, which could easily be financed with a FHA 203k loan, whereby the buyer could be occupying the home within six months or less. Once the project is complete, these homes will surely appreciate at a rate well above the rest of the region.
Here are some of the homes that you could expect.
Comments(4)