With so many great neighborhoods to choose from in Charlotte, it might be difficult to narrow down which area has the most potential, which is on the rise, and which is on the fall. In response to the question “What’s the next neighborhood on the rise for homeownership in Charlotte?” in a recent article by Charlotte Magazine, one realtor has her eye on the Hidden Valley neighborhood and here’s why.
Hidden Valley, located just minutes from uptown, offers affordable midcentury ranch and split-level homes below the $200,000 mark according to Kim Parati with Savvy + Co. The neighborhood is along the LYNX Blue line and has a median price increase of 54.4 percent over the last year. “I suspect the homes in Hidden Valley won’t remain hidden for much longer,” says Parati.
The Hidden Valley neighborhood is surrounded by Sugar Creek, Amarillo Park, and Newell South. Nestled between the Julius Chambers Highway and N Tyron Street, Hidden Valley is in a convenient location, close to numerous parks and businesses.
Formed in 1959, Hidden Valley has experienced quite a bit of negative publicity stemming from gang violence that has occurred since the 1990’s. Since about 2005, this neighborhood has been revitalized and is continuously improving its reputation through community outreach. The crime rate in this area has substantially decreased and continues to plummet as law enforcement address the source of the problem. In 2014, crime rates fell by 21 percent due to a year-long injunction banning gangs from gathering in the neighborhood. Since that time, crime rates continue to fall
Because of this negative publicity, Hidden Valley property values are affordable but as Parati suspects above, they’re not likely to stay low for long. Property values in the Hidden Value area are rising and are expected to continue rising according to PRC Charlotte. PRC Charlotte also believes that if you purchase property in the area now, buyers can expect to see a major increase in value.
Enough about the past though, Hidden Valley has a lot to look forward to. This includes the new Lynx Blue Line that is sure to continue increasing property values in this area. The light rail has boosted major development in the Hidden Valley area, with around $800 million worth of new and completed projects underway. Developers recently broke ground earlier this year on an affordable housing apartment complex near the Hidden Valley neighborhood and expect to complete the project in 2020. The apartments, called Platform Lofts, will be adjacent to Old Concord Station and will offer 198 units reserved for those making 60 percent of the median income in Mecklenbug County.