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| 07/26/2024 In this issue of MarketRent™ powered by Clarendon, we spotlight Norris Square, a historic North Philadelphia East neighborhood experiencing a vibrant resurgence. Bordered by Cecil B. Moore Avenue, North Front Street, North 5th/6th Street, and West Dauphin Street, this area boasts a rich heritage. Despite past challenges, it is transforming through passionate residents and targeted investments. We also share a variety of data tools and visualizations to help you understand the connection between walkability rental prices and development in North Philadelphia. |
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| FEATURED Norris Square: A North Philadelphia Neighborhood on the Rise |
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| Norris Square in North Philadelphia East is revitalizing with community efforts and investments. Bordered by Cecil B. Moore Avenue, North Front Street, North 5th/6th Street, and West Dauphin Street, it features diverse housing and a restored 5.8-acre park. Government projects have enhanced accessibility, attracting developers and increasing housing density. Its proximity to SEPTA, Temple University, and Center City, along with a diverse dining scene, makes it appealing to residents and investors. Norris Square's revitalization and affordability offer a prime investment opportunity. Read more and also explore recent development in the area. |
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| INSIGHTS A New Urban Paradigm: The Rise of Walkable Neighborhoods in North Philadelphia |
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| North Philadelphia is transforming, attracting real estate interest with walkable neighborhoods like Northern Liberties, Fishtown, and Norris Square. These areas offer vibrant street life, diverse shops, historic landmarks, and green spaces. Norris Square, with its tree-lined streets, historic homes, central park, and Puerto Rican cultural influences, exemplifies this trend. These neighborhoods are shaping urban living with a focus on community, culture, and sustainability. |
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| DATA Paved Paths, Rising Returns: The Walkability Effect in North Philly East |
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| Philadelphia's real estate market is seeing premiums for walkable neighborhoods like Fishtown, Fairmount, and Norris Square. Norris Square, in North Philadelphia East, is revitalizing due to its walkability, local amenities, and improved infrastructure. Norris Square Park enhances community connection. These features attract developers and investors, anticipating higher rental demand. |
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| All content is provided herein “as is” and neither Clarendon Valuation Advisors, LLC (“the Company”) nor its affiliated or related entities, nor any person involved in the creation, production and distribution of the content make any warranties, express or implied. The Company does not make any representations regarding the reliability, usefulness, completeness, accuracy, currency nor represent that use of any information provided herein would not infringe on other third party rights. The Company shall not be liable for any direct, indirect or consequential damages to the reader or a third party arising from the use of the information contained herein . © Copyright MarketRent™ | Clarendon. All Rights Reserved. |
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