Sounds catchy, but what does it mean? To buy on the path to progress...
The greatest hockey player, Wayne Gretzky famously said:
The best deals are where large investment, population trends and home sales trends are signaling that an area will likely be significantly more attractive in the near future than the present. If you strategically buy real estate where economic development is happening, you will de-risk your investment and likely end up with above average returns from both a cash flow and appreciation perspective.
This concept is similar to Warren Buffett's contrarian value investing philosophy which was covered by our sister site: Real Estate Blogs
Speaking of Warren Buffett, his value investing philosophy is perfectly aligned with our view of correct way to treat real estate investments. Focus on locking in value at entry (buying at an attractive price) and long term horizon (never sell mentality) is paramount in getting successful outcomes.
This property in Brooklyn Park is less than 10 minutes away from Port Covington and all of the future development that is going to take place there. It’s supposed to be something like TomorrowLand, or Harbor East on steroids. Also, the trip from Brooklyn Park might get shorter after they complete the planned bridge from Brooklyn to Port Covington. Sources: Port Covington Tomorrow, Goldman Sachs Urban Investment Group, TIF Funding
Giant property developer, Bozzuto, recently developed and now manages Woodfall Greens, Brooklyn Park’s first ever luxury apartment complex. It was completed in 2018, with 230 luxury units. It is less than a mile from the subject property at Harbor Valley Dr.
Ryan Homes, the largest homebuilder in the Mid-Atlantic, is currently developing a luxury townhome community in Brooklyn Park, Cedar Hill Townhomes, again just a few minutes away from the subject property. This Ryan Homes development is expected to be over 100 townhomes with prices starting in the $300s.
The city of Baltimore is planning for a complete renovation of the waterfront along Cherry Hill and Brooklyn (as well as Westport and Port Covington). They’re going to turn these waterfront areas into parks, walking trails, bike paths, and green space. The plan includes a new bridge to connect Brooklyn to Port Covington. This development plan also includes turning the Hanover Street Bridge into a pedestrian/bike path, with parks and green space on either side. Sources: Middle Branch Waterfront Master Plan
Northeast Maglev is planning to build a high-speed train line between D.C. and Baltimore, with the Baltimore station being developed and located in Cherry Hill—the proposed location for the station is just 3.5 miles, or an 8 minute drive from the property at Harbor Valley. 15 Minutes from Baltimore to Washington DC on Northeast Maglev - South Bmore
Some local non-profits have teamed up to create a bike path and pedestrian foot trail connecting the BWI trail in Linthicum Heights to the Gwynn Falls Trail in Cherry Hill. This trail will link the Baltimore & Annapolis Trail and the BWI Trail to the South, with the Gwynn Falls Trail to the North, that goes up to Baltimore City. This trail will pass right through Brooklyn Park, and within 200 yards of the property at Harbor Valley Dr. Middle Branch waterfront in South Baltimore is getting face-lift - Baltimore Sun
JP Morgan Chase just opened the very first banking center in Cherry Hill—ever! First bank in Baltimore's Cherry Hill neighborhood to open - WBALTV
Baltimore City Recreation and Parks announced in September 2020 the construction of the Middle Branch Fitness and Wellness Center at Cherry Hill and its adjacent multi-purpose, state-of-the-art playing field at Reedbird Park slated to open in 2022. Baltimore Rec & Parks announces Cherry Hill Reedbird Park to become 'Super' Rec Center - Fox Baltimore