The demand for housing is not going to abate any time soon. The pace of new construction around city centers remains molasses-like. The prices of homes near BART are now so steep that all paradigms of Real Estate have been turned upside down. It is a whole new world. I am observing phenomenal prices for homes near public transportation to San Francisco. It used to be that a home in the Hills was a coveted thing, and of course there are those who work locally and want peace and quiet and expansive views, but the overwhelming trend is buying homes that are conveniently located near BART.
And while the market has been reeling with ever increasing prices, quietly and patiently, the city of Richmond has been taking care of business. The Richmond Transit Village is well under way with over 100 condos either completed or coming soon, as well as a completed 2.7 million dollar modernization of the station; new parking, and a sleek new Amtrak station and many retail spaces waiting to be rented. This work covers the North and East area of Richmond, adding tremendous value to the properties in the neighborhood.
What of South Richmond? With it's sweeping waterfront views and mixed use properties, South Richmond has been ripe for development. Luckily, Richmond has continued with its long-sighted vision! Ferry service will be available in 2018 at the Ford Peninsula with two new boats added to the Ferry's fleet. Diversifying the options for commuters is nothing but brilliant. Richmond saw the writing on the wall and seized this tremendous opportunity.
I have long been Richmond's loudest "Town Crier", extolling an investment opportunity that I hope my friends and clients can take advantage of. With the Ferry coming to dock in just a couple of years, it would be foolhardy not to consider South Richmond as a place to buy.
Those of us who live on the West Coast are certainly imbued with an explorer's drive, we are the trendsetters and the modern day claim-stakers and I for one, am betting on Richmond!