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.
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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