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Real Estate Recovery - The Impact of the New Fairfield Metro Train Station on Black Rock

By
Real Estate Agent with William Raveis Real Estate RES.0772823

In our last post on the Real Estate Recovery in Black Rock, we discussed THE WHOLE FOODS EFFECT. Property values near a Whole Foods store can go up as much as much as 17.5% and can become the catalyst for revitalization of an entire neighborhood. Urban planners call this the "Whole Foods Effect." One anchor store, such as Whole Foods, tends attracts other high end stores and transforms the community.

Fairfield Metro Train Station

In addition to Whole Foods, there is a new train station which has been in the works for more than six years, but is finally slated for completion at the end of October. City planners have aptly named this THE TRAIN STATION EFFECT. Studies have shown that a new train station can boost prices between 14-18% within a one mile radius of a new stop on a train line. This train line, Metro North, goes to Manhattan, making it particularly desirable.

 

FAIRFIELD METRO TRAIN STATION

 

A one mile radius around the new train station includes most of Black Rock. The new train station (officially called the Fairfield Metro Station, but referred to as the Black Rock Train Station by locals) is on schedule to open in October 2011. The station will have 1,500 parking spaces. This station may be an express stop for Grand Central Station and Stamford (no official word on this yet). A pedestrian bridge may also be in the planning stages from Fox Street to the new train station, which would provide easy access for Black Rock residents. Eventually a hotel/retail/office complex called Fairfield Metro will be built on the site according to the developers. Original plans called for a Hilton Hotel and upscale retail stores.

For more information about the Black  Rock Community visit www.blackrockonline.org .  For more information about Black Rock Real Estate visit www.blackrockhomesforsale.com .

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Comments (7)

Kathy Toth
Ann Arbor Market Center Keller Williams - Ann Arbor, MI
Ann Arbor Real Estate Experts - Kathy Toth Team

Gail, I love to hear about infrasturcture spending and growth - hooray for CT!

Jul 31, 2011 04:20 AM
Sheldon Neal
Bergen County, NJ - RE/MAX Real Estate Limited - Maywood, NJ
That British Agent Bergen County NJ

Very interesting ! I had never heard of the "Whole Foods" effect, and I live about 5 blocks from a Whole Foods !

Glad to hear the future development around Black Rock is looking promising !!

Cheers Gail !

Jul 31, 2011 04:34 AM
Bonnie & Terry Westbrook
Westbrook Realty - Ada, MI
Grand Rapids MI Real Estate

Hi Gail!  This is true about the train effect - people like to use public transportation, if possible.

 

We are not on AR as much as in the past.  Do stop in to check on people once in a while.

Hope all is well with you.

Jul 31, 2011 04:49 AM
Gail Robinson
William Raveis Real Estate - Southport, CT
CRS, GRI, e-PRO Fairfield County, CT

Kathy - Yes, and it's great that it's in our neighborhood!

Sheldon - I never had either until I started writing a post on the new Whole Foods market.  Who knew?

Bonnie & Terry - Good to see you on AR.  Miss you!

Jul 31, 2011 05:23 AM
Virginia Hepp - Mesquite NV REALTOR
Desert Gold Realty - Mesquite NV Homes For Sale - Mesquite, NV
Mesquite NV Homes and Neighborhoods - Search MLS

So Black Rock neighborhoods have the Whole Food effect as well as the metro train station effect - both should definitely add the the real estate recovery.  :)

You should link to your Whole Foods effect post - that was very interesting.

Jul 31, 2011 07:41 AM
Peter Pfann @ eXp Realty Pfanntastic Properties in Victoria, Since 1986.
eXp Realty, Victoria BC www.pfanntastic.com - Victoria, BC
Talk To or Text Peter 250-213-9490

HI Gail,

You are very smart to illustrate the huge importance of convenience, quality of life and easy access to services and amenities as well as infrastructure improvments to the recovery and well being of Fairfield County and or any other local community for that matter.

Jul 31, 2011 09:33 AM
EC, JF, Double R and Zoey the Cool Cat
Russel Ray Photos - San Diego, CA

We’ve found in San Diego that there is also a ballpark effect. The revitalization of downtown San Diego has been nothing short of spectacular since the ballpark was built in 2003.

Jul 31, 2011 03:18 PM