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How do you define economic renewal? If you mean trendy restaurants and bars, that's not happening in 2013 but in my mind that's the last stage of renewal.

The first stage is becoming a hot real estate market and Anacostia is definitely in that stage. Lots of houses being rehabbed and lots of investors (both long term and flippers) are swarming the area. If you can still find a rowhouse for under $100K, rehabbing it and selling it for over $200K isn't hard.

As the stock of rehab houses quickly dries up, the next stage will be new construction. Also, as prices rise, it will force out low income renters and higher income renters or owners will take their place. Only after all of that happens will you see bars/restaurants/retail.

The bottom line is that the difference in home prices between Near SE and Anacostia is huge even though the distance between them isn't far. As someone else noted, Anacostia is the same distance from the White House as Virginia Square but a townhouse in VA Square that costs $650K can be had in Anacostia for $200K. As Anacostia's reputation for crime improves, I can see it becoming the premier place for yuppy african americans in DC or anyone else who wants the proximity of an Arlington/Brookland/Petworth at a much much lower price.

Place the new stadium EXACTLY where Barry Farms is!

I think the folks planning the $400M, 1500 unit development at Barry Farm (no "s") would have a thing or two to say about that.

combined with a major attraction like the Redskins Stadium would make Anacostia a premiere neighborhood in DC.

Right...like the stadium has made Landover a premier neighborhood?

by Falls Church on Jan 23, 2013 4:30 pm • linkreport

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