5 Most Exciting Development Areas in the United States
If you are planning to invest in real estate, it’s a good plan because US cities are expanding creating more opportunities for investors. But choosing the most perfect among these cities may be overwhelming or daunting. So, here are 5 of the cities that are extremely potential for property investment.
1. Denver, CO
Ranked #1 among 401 metro statistical areas in Forbes’ 2015 list of the Best Places for Business and Careers, Denver is perhaps the hottest real estate market too with new amazing transit options including the about-to-open G Line light rail. It contains areas like Golden Triangle, Union Station and Highland areas where apartments are being constructed at a tremendous speed while RiNo neighborhood real estate is continuously expanding with new creative developments. With the billion-dollar National Western Center and an impressive transit-oriented development arriving in Stapleton, Denver is doubtlessly one of the most lucrative markets for property investment.
2. Austin, TX
The next hottest city for real investment is the Texan tech capital, Austin, which is continuously expanding with high-rises taking shape. The new developments in the city include Independent, which will be the tallest skyscraper of the city, a new luxury tower coming up in the Rainey Street of downtown Austin and Endeavour, scheduled to develop the Austin American-Statesman site south of downtown. Looking at the constantly growing attraction of the millennials towards the city and forecasters’ expectation of 3% job growth, Austin is about to become one of the most exciting hubs for property investment.
3. Nashville, TN
With the $430 million Fifth + Broad mixed-use project scheduled to open in 2019, the Music City Nashville is being seen as an emerging business and financial center that is attractive for real estate investors too with over 50 cranes found hovering above the city last year. The city’s connectivity to the East Coast, low cost of businesses and low cost of living are all being accredited for job growth and relocation. Nashville is supposed to be one of the hottest markets for homebuyers in 2018 while witnessing a commercial boom at the same time with growth of tourism and numerous hotels coming up including boutiques such as the Printing House and Joseph.
4. Portland, OR
Portland, popularly known as Bridgetown, has lately taken big steps to make its waterfront more developed, beautiful and appealing, and has brought tremendous changes in areas like the Old Town and Pearl District. An excellent example is the Zidell Yards site which is an earlier 33-acre junk yard on the south waterfront of the city that is being transformed and will have 2,200 residential units, three parks, 1.5 million square feet of business space and waterfront and a public plaza by 2020. What’s more, there are other huge developments too such as Nike’s 1.3 million square-foot development and numerous new healthcare facilities, signaling the still-growing creative and biotech industries of the city.
5. Seattle, WA
As stated by the Urban Land Institute, Seattle will continue to grow and is on its way to becoming a true refuge city. Amazon is planning to make the city its second headquarters and has huge plans for it including biospheres. It’s estimated that by 2022, 12.8 acres of the city will be occupied by office projects. Other massive projects from the recent Mark to the soon-to-come-up Washington Convention Center Expansion indicate the boom of the city with 100,000 new residents incoming in the last decade. Although the growth has brought challenges in affordable housing and infrastructure, the city has efficiently handled them with transit extensions in almost every direction and a strategy of housing and livability being applied on a small scale in certain neighborhoods.
So, if you are looking for real estate investment and wondering where to start, these cities are good to do that. Consider them and you’ll thank yourself in the long run!