The developer of this proposed high density, multi-family subdivision (its clearly not a cottage neighborhood) has suggested that the parcels involved are “blighted” and that the neighborhood will benefit greatly from this development.
So lets look at some of the numbers with respect to property values on North Boulevard Terrace.
These figures above related to the property values on North Boulevard Terrace clearly illustrate that Chernock’s properties are the lowest valued properties. Moreover, Chernock’s properties have had the sharpest 5 year decline in values versus the other North Boulevard Terrace properties. So it appears that the “neighborhood blight” to which the developer refers is largely due to the neglect of his own property. Coincidence? Or is it an attempt to keep property values artificially low for the purposes of acquisition?
And what about the property values on N Hampton Road? Lets take a look.
The figures above related to property values on Hampton Rd clearly illustrate solid gains in value over the past 5 years. Additionally, the average home values are comparable to or greater than other areas within West Kessler. Contrary to arguments made by the developer, this segment of Hampton Road does NOT need to be “rescued”.
Please note the picture below of a homeless camp that was discovered on, yes you guessed it, Chernock’s property!