bostonhater Posted February 27, 2007 Share Posted February 27, 2007 I have been living in Galleria area for over 5 years now and me and my wife are looking to purchase a townhouse around this area. What I realized is north, west and east sides are extremely expensive whereas southern side which is mostly populated by low income residents are very cheap. It is like a mile away from Galleria mall and 1/5th of the price in Galleria. You walk less than a mile and price drops 1/5.So my question is howcome that area I mean where the Bayland park and its surrounding areas did not develop till this time. I do not see an organic expansion of Galleria which does not make sense. It is almost next to Galleria center at the cross sections of 59 and 610 next to Bellaire yet houses and land is ridiculously cheap.Across from Bayland Park on Elm street brand new tiny, small 2 bedroom townhouses are going for 400K, but on the other side of the park you can get it for much cheaper though there is no new development. Go figure... How come no developer ever purchased the cheap rental units occupied mostly by poorest people in town, tear it down and built a new one? Any ideas? Or am I missing something here? Quote Link to comment Share on other sites More sharing options...
Pumapayam Posted February 27, 2007 Share Posted February 27, 2007 How come no developer ever purchased the cheap rental units occupied mostly by poorest people in town, tear it down and built a new one? Any ideas? Or am I missing something here? The ghetto that is Glenmont. Mostly illegal hispanic communities in run down apartment complexes. Nothing attractive about it unless you like shopping carts in your front lawn. Quote Link to comment Share on other sites More sharing options...
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