Heard the buzz? Word has it Bridgeport PA is nearly ready for a dramatic close-up. Playing the understudy to nearby Conshohocken far too long, the limelight is poised to swing up river. The anticipated rise of Bridgeport’s star is scripted perfectly in the new paperback Zillow Talk: Rewriting the Rules of Real Estate.
The reviving Schuylkill River town is perfectly cast for what Zillow calls the Halo Effect – predicted above average price appreciation around city centers – an actual trend revealed by crunching historical price data and tracking the strong demand for “millennial generation” lifestyle amenities.
So grab some popcorn. It’s Oscar season and the local nominees are homes for sale in Bridgeport Pa. The categories are:
Last year in Bridgeport Borough the average home sold for 162,000. Incredibly, the average cost of a home in Conshohocken (just down river on the other side) was almost double with an A-list price tag of 301,000. Zooming out, the average sold price in all of Upper Merion Township, Montgomery County, was 297,000 in 2015 according to Trend MLS statistics.
Already in 2016, the average price of pending homes going to settlement in the borough is 182,000. Should we expect every house for sale in Bridgeport PA to become an overnight sensation? Probably not, but there seems to be enough upside potential to prevent a major flop.
2. BRIDGEVIEW on the river
Let’s cut to the big pitch. Our Bridgeport “production” needs a backer with deep pockets to get our momentum moving toward future fame and real estate fortune. The equivalent of a real Hollywood mogul, if you will. Enter O’Neill properties of King of Prussia.
O’Neill’s Bridgeview is a 29 acre planned residential community along the river. The site is approved for about 325 townhomes plus apartments that will reconnect the borough to the riverfront. The highly anticipated development could pull in 1,000 new residents who will bring new life to town. More new establishments like Taphouse 23 will follow, and existing restaurants and shops will benefit.
Bridgeview will have a ripple effect on Bridgeport. People will take advantage of affordable homes in a connected community, and will come to create a high quality of life. These are proven data-driven truths right out of the Zillow Talk playbill.
Bridgeview in Bridgeport PA is the “Main Attraction” worth watching. The remaining talent-packed categories are exciting, too.
3. GOOD SCHOOLS
Not to get carried away with too many show biz puns, but the critics agree – the hot ticket for today’s blockbuster millennial home buying audience is good schools. A local survey by Pew Charitable Trust found 29% of millennials said they expect to leave Philadelphia to find better performing schools when the time comes to start a family. There are over 50,000 people ages 25-34 living in Greater Center City today. Thousands will move out looking for good schools and affordable housing.
All of the schools in the Upper Merion School District are rated A or A+ on Niche.com, including Bridgeport Elementary. US News and World Report ranked Upper Merion High School 37th in the state.
4. LOCATION, LOCATION
Dare I say Bridgeport’s connections are celebrity caliber? Seriously, the town’s location is stellar; connected in every way to the city of Philadelphia from the suburbs of Eastern Montgomery County, and across the Greater Main Line via car, bus, train or trail.
Situated perfectly along the Route 202 corridor between King of Prussia and the county seat in Norristown, the borough also has a couple of alternate routes in and out – toward West Conshohocken on Route 23 and into Lower Merion through Gulph Mills hooking up with Routes 76 and 476 just a few miles away.
Shopping along 202 through King of Prussia is plentiful with Acme, Giant, Aldi, Target, Starbucks and much more only 1-2 miles away. Best of all, the 202 bypass diverts traffic around the town over a second bridge across the Schuylkill. This frees up the DeKalb Street Bridge for local traffic in stark contrast to the notorious lone bridge situation in Conshy.
Residents in the lower neighborhoods can walk across the DeKalb Street Bridge to access Norristown’s SEPTA Regional Rail station with stops in Conshohocken, Manayunk and Center City. Bridgeport is also serviced by the Norristown High Speed Line that runs South through the Main Line to 69th Street in Upper Darby. Bridgeport commuters have excellent access to major job centers in King of Prussia, Plymouth Meeting, and both Chester and Delaware Counties.
The DeKalb Street Bridge will also carry the Chester Valley Trail coming from Exton and Wayne through Bridgeport over the river to link up with the popular Schuylkill River Trail into Philly. Bridgeport bikers and hikers will enjoy the best of both trails for those long weekend treks.
5. MILLENNIAL MISE EN SCENE
If you have ever location scouted other Schuylkill River neighborhoods like Conshohocken or Manayunk, then you’ll be very familiar with the authentic small town look and feel of Bridgeport. The genre of housing is an older stock of singles, twins and rowhomes mixed with a significant number of larger, newer townhomes built circa 2004-06, some with panoramic views over the neighborhoods below as the terrain slopes gently to the low lying riverfront.
The stage is set. It’s time to suspend disbelief. Bridgeport PA is a walkable, amenity rich small town with parks, schools, churches, and well established businesses of all types, poised for smart growth where cars are optional. In short, nearly everything today’s first home buyers are looking for.
I’d like to thank all of the people making this possible, er…time’s up? Cut off by the great music coming from the Rib House, I’m sure. You get the picture.
For more info follow #BridgeportPA on Twitter or ask for my Free Report.
Source: Millennials in Philadelphia: a promising but fragile boom, The Pew Charitable Trusts, February 2014