Looking for the hottest up and coming Edmonton real estate for 2014?
Everyone knows that the way to get the best deals is to buy right before an area really takes off. I’m really excited about a few neighbourhoods in the Edmonton area that are seeing tons of redevelopment with extremely reasonable prices.
Whether you’re buying your first home or an investment property, I think you will want to take a look at these neighbourhoods.
Chris Proctor’s Top 5 Up & Coming Edmonton Neighbourhoods
There are many reasons more people are being attracted to Inglewood. Several schools, great sized lots and reasonable prices make Inglewood attractive for families. An influx of great cafes and restaurants has also contributed to Inglewood’s growing popularity but the consistent re-development is what really makes it a promising area for investment potential.
This very central location is just off McKinnon Ravine and easily one of the most popular up and coming areas we deal with. The area began development in the early 1900s but features a mix of old and new properties today since re-development efforts have taken way.
It’s right outside an area featuring some of the highest priced properties in Edmonton and most of the homes here are single family, with the exception of a few condos. Great appeal for first time buyers and one of my personal favourite up and coming neighbourhoods!
Ritchie is a bit more developed than the first two neighbourhoods on this list and is a highly sought after area right now. It’s perfect if you are a student or work at the university since it’s so close to campus without the usual high price tags!
Whyte Avenue is less than a 5-minute drive away featuring a wide assortment of restaurants, local shops, nightlife and Edmonton’s famed “The Fringe”. The area is very transit friendly and highly sought after right now.
Hazeldean is a great residential area with lots of opportunities for families to stay active including a great playground, soccer field and two baseball diamonds.
4. Alberta Avenue/Parkdale
Although it has previously had a reputation for being a rougher area, Alberta Avenue has become a hip spot for the younger demographic and is seeing a ton of re-development. This beautiful, historic neighbourhood is not only attractive for it’s incredible prices but also it’s close proximity to downtown and Rexall Place.
Both Alberta Avenue and Parkdale are great for young, first time buyers that work downtown and want to live where the action is. Not many people can go see an arena-level concert and walk home afterwards!
5. Boyle Street/McCauley
With mostly apartments in the area, Boyle Street is ideal for first time buyers who work downtown and like being able to conveniently walk or access transit to where they need to go. McCauley can be a tough area to find available property in but is very desirable right now when on the market.
The future looks very bright for this neighbourhood with the highest increase in assessed property values in 2014 and $54 million going into re-development and infrastructure. It’s tough to beat views of the river and valley at this price with this amount of investment potential.