There are many redevelopment projects happening that will influence the future of property values in the Chester market:
Crossroads at Widener: a new hotel and retail center across from Widener University is underway.
Chester Towers: demolished, 4 new mid-rise buildings to replace the former hi-rise eyesores.
Waterfront Redevelopment: Professional Soccer stadium, new homes, and commercial areas
Movie Studio: Pacifica Ventures is building a hollywood-style movie production facility in Chester Township (which is likely to bring an estimated 2000 new jobs to the region)
Harrahs Casino: Brings an estimated 15,000 visitors DAILY to the city.
Perhaps the best news is the Chester Community Grocery Co-op. A coalition of families in the area have come together to provide a full service grocery to the city (which has not had a grocery store in over 15years.) (see the web reference below for more details)
The momentum for Chester is forward-moving. Property values have continued to increase. Companies that have moved to Chester are succeeding. Despite the negative reports, Chester is not all drug dens and gun violence. I am not spouting a "positive spin." I live nearby, and frequently attend worship in Chester. I regularly take my twin 5-yr old boys to play in Chester Park. I shop regularly in Chester, and attend a Christian Businessman's Breakfast weekly in Chester. Some of the finest people I know live or work in Chester.
The school district is getting an overhaul, and the charter schools are doing well. (The new Chester School for the Arts is opening this year.)
Don't let the nay-sayers make your decision for you. Learn about the area, weigh the good and the bad, and decide for yourself.
If you ask people about investments, they will tell you to "buy low, sell high." Right now, Chester property values are about the lowest in the County, and are climbing. I expect (though I cannot predict, of course) that because of all the money flowing into Chester, there will be considerable upward movement in the marketplace, and there could likely be a substantial appreciation on Chester properties in the following years.
The house is sound, and when it is fully rehabbed, will be beautiful.
I can proudly call myself part of the solution: I am a responsible homeowner that bags my trash properly, mows regularly, and keeps my storm drain clear of debris. I am repairing and reversing the damage that long-term rental properties and vacant properties suffer.
Property values will be far lower than they should be until a tipping point is reached, when there are a few more people of good will do what I do.
schools. Economic boosts- trash disposal plant and Harrah's- gambling has traditionally not increased property values save property bought by actual casino. Atlantic City is a perfect example. Gambling brought more crime and prostitution, as if Chester has not had all that for decades now. You know the area is high crime when the casino itself does not bring you through Chester (when coming from S95) instead takes you miles past and brings you through Ridley exit. Chester high had armed guards at the door since 1970! The only positive
responses to this city are from actual agents, who will make money from sale. Your insurance, car & home will be high, and good luck walking after dark no matter Who you are. I think someone thinking of buying there and are not from area should know the TRUTH!
More than that, you need to like what you buy. Go in with your eyes wide open. Check out the area at different times of the day.
Does this location meet your needs? Where do YOU plan to be in 5 years? No doubt you've heard snippets about casinos and soccer fields and other initiatives in the area - keep on top of them with the help of your realtor .
Don't hesitate to be in touch if I can help
Please feel free to contact me so we can discuss this in detail. Unfort. we as agents dont have a crystal ball as much as I would love to. Your situation depends on a few factors which we can discuss.
Have a great holiday