Commercial Development Brings More Demand For Residential Properties In Logan Square
By John McDevitt
PHILADELPHIA (CBS) - With plans of the construction of a new temple, residential high rise and a luxury hotel project, the Logan Square Area of Philadelphia is seeing an increase in commercial development. There is a demand for homes in the area, too.
Real estate experts say homes in the Logan Square neighborhood range from around $400,000 to $2-million and most properties don't stay on the market very long.
Julie Welker is president and CEO of Coldwell Banker - Welker Real Estate in Fairmount.
"We sold properties in less than a week. A week, two weeks, some take a little longer," she said. "I would say average time on the market is between 20 and 40 days."
She says one of the appeals is most new construction has parking.
"Some of them even two car garages."
"There's a lot going on," according to Logan Square Neighborhood Association president David Searles. He says residential and commercial development is on the rise and thankful the city has been including the association in the planning and review process.
"We need to work together to make this area that is developing so fast develop in the right way"
The Logan Square neighborhood is the area north of Market Street, south of Spring Garden Street, west of Broad Street and east of the Schuylkill River.
