The city’s oldest and most diverse neighborhood blends new- and old-school commercial ventures, despite it being “cut off” from the rest of the city by major arteries on all sides.
“There are a lot of opportunities for people both moving into the apartment market and the buyers market to come into the neighborhood,” said Carrie Dancy, executive director of East Somerville Main Streets. “It’s definitely the most affordable part of Somerville, especially when you consider the T access.”
Home sales in the neighborhood — many of them condominiums or multi-family units — took off toward the end of 2009. And rents remain lower than in other parts of the city.
A four-bedroom apartment can still be found for under $1,500 and some Victorian homes with loads of charm are less than half a million.
There still exists an old guard which fears the gentrification that has hit other Somerville nooks such as Davis Square. And many real estate agents are still reeling from the poor economy.
“Business is slow, slow, slow,” George A. Ross, owner of Ross Real Estate.
But crime is below the national average and the area’s offerings are finally taking the forefront after years without notoriety.