News & Press
Fishtown Real Estate Market Getting the Attention it Deserves
For the past few years, Philadelphia Inquirer real estate reporter Alan J. Heavens has been plugging away at profiling each and every community in the Delaware Valley. This month he finally turned his attention to Fishtown, the Little Neighborhood That Could, a former hub of shad-fishing in the Lower Northeast section of Philadelphia.
Fishtown: Where is it, Exactly?
So how did he start? With the thorny question of where, exactly, Fishtown begins and ends—an issue raised a few months ago on the AGA Developers Facebook page. Even the mighty Google can’t decide, placing AGA’s Trenton Stables development in Fishtown in some maps, and Kensington in others.
No matter. It’s pretty clear when you walk the neighborhood that Trenton Stables is in the heart of Fishtown’s vibe. Artisan shops, farm-to-table restaurants, galleries and restored historic properties—all surround the six luxury townhomes going up on a cobblestoned block located just off Frankford Avenue, Fishtown’s main business artery.
"Fishtown is Philadelphia's poster boy for revitalization of a formerly working-class neighborhood by educated and creative-class millennials," Heavens quotes urban researcher Kevin Gillen as saying. "It combines proximity to Center City with the walkable, diverse mixed-use environment of repurposed older buildings that provides the 'urban authenticity' sought by this generation, along with a significantly lower cost of living that puts renting or owning there within reach."
Luxury Townhouses Contributes toward Urban Revival in the Heart of Fishtown
A few blocks south of Trenton Stables you’ll find Frankford Square, a luxury townhome development facing Blair Street on one side and Frankford Avenue on the other. The Blair side consists of approx. 3500 square foot, 3 bedroom/3.3 bath units, all sold; the Frankford side, still under construction, consists of ground-floor retail and approx. 2000 square feet of high-end condo living upstairs, available as a duplex for business owners/investors or as separate units.
The condo and duplex market is one local real estate professionals identify as underserved, according to Heavens. With price points under $400K, Frankford Square falls squarely within a particularly desirable real estate niche.
New residents have driven a strong demand for new construction. While the rest of the area was mired in a housing bust a few years ago, Fishtown was still growing—a testament to the vibrancy of the local real estate market.
"The overall Fishtown market is really maturing and filling in," builder James Maransky says. "It is a great destination for young buyers, [who] appreciate the value of what they are getting."
A few vital statistics from the Inquirer:
Population: 31,694 (estimate)
Settlements in the last three months: 66
Homes for sale: 125
Average days on market: 69
Median sale price: $209,000