The Sunday Chron had a look at some new development coming to Main Street near the Ensemble/HCC station. In it was this observation about what had previously been built in the area:
When the Main Street light rail line opened in 2004, there were hopes that transit-oriented developments would follow, particularly at rail stops, but there has been relatively little growth.
One notable exception is the block next door to the soon-to-open shops at 3600 Main, at the Ensemble/HCC stop: 3700 Main, which houses the Continental Club, the Breakfast Klub, T’Afia, Julia’s Bistro and Mink bar. Four businesses on the 3700 block — the Continental Club, Tacos A-Go Go, Sig’s Lagoon and Big Top Lounge — were developed by Bob Schultz and his partners Steve Wertheimer and Gordon, and investors. Some of those businesses, including the Continental Club, predate light rail.
[…]
Ed Wulfe, chairman of the Main Street Coalition, a group aiming to enhance the street, offered reasons why only a relative few blocks have been developed along the rail line: land speculation, which causes real estate prices to soar and makes development less desirable; the lack of incentives to encourage development; and the recession.
It all depends on how you look at it. Christof Spieler documented in 2007 a whole bunch of new construction and renovation work done along and nearby the Main Street Corridor. The vast majority of it was downtown or in the Medical Center, though there were a few things in Midtown. My own observation is that much of what I’ve seen happen in Midtown, before and since the construction of the light rail line, has happened on the streets near Main Street, but not so much on Main Street. For whatever the reason, that’s been a much tougher nut to crack.
Maybe it’s good that we are in a recession, so that builders aren’t buying everything along the rail corridor and putting up all kinds of crap.
I believe Fulton and N Main are prime prospects for new construction and price increases. The “hidden jewel” Lindale Park will finally be connected to the rest of the city. This little pocket of homes should do very well once loans loosen up a bit more. If you are looking for the next “hot spot”,Lindale Park homes may be worth checking out..
I have several posts about the North Line, (now under construction) and Lindale Park on my real estate blog.