The real estate market in the Midwest one of the most stable in the country, so when a city starts to grow in size, popularity, or otherwise, it’s a great idea to invest in property and watch your money grow!
Louisville, KY is currently growing in leaps and bounds, making it a great place for property investors. In the past 15 years, residents and investors have been paying special attention to improving the infrastructure and aesthetic by maintaining and restoring some of some of the city’s great historical architecture and roadways.
Louisville is already home to the nation’s largest preservation district of Victorian architecture in the neighborhood, called Old Louisville, soo the idea of maintaining that old character is not new to the area. There are still many abandoned warehouses, bourbon-bottling facilities, and market buildings of yore just waiting to be converted into something new and exciting. Renovation opportunities abound!
East of downtown and near the river is an area of town called East Market, or “NuLu”, which has exploded with activity over the past ten years. Here, old market storefronts have been maintained and the interiors re-imagined to house shops and restaurants, including an old gas station that has been converted into a pizzeria and bar. Patrons can sit outside under the awning that once housed the gas pumps, or inside at the bar formerly used by the gas station’s cashier.
After the success of NuLu, local rumor has it that investors are now turning their sights to the neighborhoods West of downtown, where they hope to turn a low-income area into another thriving neighborhood. Single-family homes, warehouses, and other abandoned industrial buildings can be bought in this area at a relatively low price, refurbished, and turned into profit for the owners. Not only could potentially own a piece of architectural history, but they would also contribute to the improvement of the neighborhood.
So if you’re ready to invest, now’s the time to do it!
*picture via schillerhardware.com