I thought Georgetown had been the Next Big Thing for, I dunno, at least two years now.
I would worry too if I was paying rent on a retail space and my landlord walks in with a rent increase- Georgetown (GT) will be one of the first places hit if we have a major recession. On another note: I would not by a house in GT, but I wish I could buy a building and have my own business (maybe in my next life). Is there much data on who owns what in GT? I mean- big real estate companies vs local owners. It would be interesting to see a map. The info might help in reinforcing the goal of local ownership- of buying/using local products by local businesses. I think this has worked in regards to restaurants, but not sure if we have really moved to get goods and services from local owners/businesses. One does pay a bit more, but if we could make an effort- it might help GT and other local businesses stay in business if the recession does hit hard here in the NW.
It is interesting that there is no mention of the farming community which existed in Georgetown before the river was straighten and industry took root or the people who have continually lived here before/since the Collins and Maple families came here in the mid 1800's. The comment about the modest houses interspersed with the machine shops, truck yards and factories - what, what?? When I walk out my front door every morning, I dont see anything but a continual line of houses to the right, left, and center. Is there something I am missing? Oh, yes - the next big thing - but I heard that before I moved to Georgetown 10 years ago...
There are some major landowners in GT.Sabey Inc. is obviously one. Jon Bennett owns the other side of Airport Way, plus he has some properties in the residential area. There are a handful of residents who own many properties. Lots of the 'affordable' homes are becoming rental properties. GT seems to be a good investment for a handful, and it's only getting worse. Are people buying because they like the neighborhood or they like the return on the neighborhood?
Post a Comment