Quote:
Originally Posted by TechTalkGuy
 Who wants the ghetto slum of North Philly?
Would you care to compare it to Harlem than Camden?
Sorry, but that analogy doesn’t sound very appealing for any developer to invest capital. |
Your "ghetto slum" is one of the most rapidly redeveloping parts of the city. Brewerytown, Francisville, Old Kensington, Norris Square are all part of lower North Philly.
And yes, Jersey City
is comparable to Harlem. Times change. The underlying dynamic guides how they change.
Quote:
Originally Posted by jsbrook
It's not a matter of success or lack thereof. I don't see Camden and Philly's economies or residential real estate market as linked whereas I think North Philly and Center City clearly are. I haven't seen anyone post any real evidence of links between Camden and Philly. The development happening in Camden now is not a function of what's going on in Philadelphia's economy but a function of some good natural resources and extreme levels of tax incentives by the NEW JERSEY state and local government and other coalitions to give enormous incentives to get pre-existing companies to relocate in Camden. I think the exact same thing would be happening if Camden was a post-industrial, divested NJ city hundreds of miles from here with some waterfront land.
What's happening in North Philly is a function of KOZ zones, local governmental and non-governmental actors, and in no small part, the gentrification in Center City causing more affordable areas in North Philly to be attractive to business and residents from other parts of Philadelphia. I don't think geographic proximity alone makes a satellite city. I think Camden and Philly function pretty independently. I could see more overlap between their industries and economies and residential real estate markets one day, but I don't see it now.
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You're making the mistake of only looking at the surface-level incentive-driven investments while ignoring what
else is going on. Also I have no idea what you're referring to with your KOZ line -- as I just pointed out, the relevant comparable in terms of neighborhoods are seeing a ton of private investment. Camden is nearing (is perhaps
at) a tipping point where private investment becomes viable in parts of the city like Cooper Lanning.
You two could not be more dead wrong.