The Independence Heights is exploding with growth and construction, those who are not familiar with the Independence Heights, it is north of 610 freeway. It’s 90% African American which is great… I love the diversity. The changes are exploding in the area. However some people see this as they are being pushed out of the area. Summer frowning because lot prices have went from $25,000 for 5000 square feet up to $100,000.
One of the biggest changes was the Whole Foods grocery store that opened up about a year-and-a-half ago now. Alongside of it has been another Shopping Center and much more. So where does the line end or is there a line that ends. I would save from 29th Street and 610 North all the way to 40th Street that will be the most focused area for investors.
With the growth rate that has excels 300% just for a empty piece of land you can see why investors are flocking to the area. However some people are very upset with the transition of the area. With the increased in lot value comes increased tax value. There are homestead tax exemptions however they are set at a cap rate annually.
I made a video about the Independence Heights that gained some traction, and as you see in the comments there’s a gentleman that’s very upset about the transition of the area. Basically the family that live there are trying to dissuade or persuade buyers or investors not to come into the area. They do not want to see change in general. I can see their point of view look at it, as now we have 3 and 4 story Townhomes that are sitting next to 1910 single family homes.
Mrs Johnson has been living here since 1943 and she can’t believe the changes are happening. She’s very upset that she cannot even afford the taxes that she has to pay for now. She doesn’t know what to do with this pandemic and no work and higher taxes what is she to do?
Her story is like many others in this area, because of increase in taxes they have to sell. Taxes that were once $200 a year are now nearly $3,000 a year. Which may not be a lot to you, but it is huge to some people.