Grier Heights has really gone through a significant transformation over the past decade. It used to be a haven for crime and falling property values, but recently the city and private developers have been pouring money into the neighborhood in an effort to re-vitalize it. All but about two abandoned houses remain and they will eventually be torn down. It's part of a revitalization project for Grier Heights, involving nonprofit real estate developers Self-Help and CrossRoads. About seven new homes have been built in the past few years. The revitalization project also includes after-school programs, a new medical center and job training. The cost of the new homes starts at $125,000.
I would be glad to send you the market absorption statistics and rental rate trends if you would like.
Scott Jensen, MBA, Realtor
Carolina Realty Advisors