Cleary’s Notebook News Digital files: April 2007
By Bill Cleary
Gloucester City is one of 40 communities to be named by Philadelphia Magazine as A Community to Watch. The March magazine article, written by Michael Callahan, looked at hundreds of towns both in the Philadelphia region and in the South Jersey area before picking the next hot neighborhoods.
Some of the guidelines Callahan used to choose the elite 40 towns, included such things as the proximity to center City Philadelphia, big shifts in population and wealth revitalized downtown.
Timothy Haas, Philly Magazine online editor was asked what stood out about Gloucester City. Why did Philly Magazine predict Gloucester City\’s name will go up in lights in the next 10 years? Why was it chosen as A Community to Watch?
Haas said, \”The idea wasn\’t that each of the 40 communities matched each of the trends; just at least one of them. Gloucester City fits within trend #3 as a town with good bones — its walk able, it\’s on the water, it has solid housing stock, and is of course very close to the bridge to Philly. \”
Besides Gloucester City the other communities named as A Community to Watch in Camden County were Collingswood, Haddon Township and Merchantville.
The Gloucester County communities chosen were Glassboro, Mullica Hill, Pitman and Swedesboro.
The Burlington County communities, Bordentown City, Burlington City, Palmyra, and Riverton.
Haas said, \”we have highlighted towns and neighborhoods we predict will see big popularity gains (and hence price gains) in the next five to 10 years, or least be pretty solid bets.
For example, in Gloucester City there were 216 homes sold in 2006 with a median price of $119,950, the one year price shift was 22 percent, the three-year price shift was 68 percent. The magazine predicts in 10-years the value of homes in Gloucester City will increase by 50 percent. The non-rush drive time to Center City Philadelphia, 15 minutes.
There were 201 homes sold in Collingswood in 2006 with a median price of $228,000. The one-year price shift increase by 4 percent; the three-year price shift, 41 percent. In 10-years the value of homes will increase by 112 percent. The non-rush drive time to Center City, 15 minutes.
Haddon Township, 201 homes sold in 2006 with a median price of $243,000. One-year price, 2 percent; the three-year price shift, 34 percent. In 10-years the value of homes will increase by 71 percent. The non-rush drive time to Center City, 17 minutes.
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