If you have decided to invest in commercial or residential property development then it is your right time and Norfolk is the right place for investment. Now the question automatically comes: why?
Here are the reasons:
Norfolk is home to the largest naval military base on the East Coast. This seaside city is open for communication on water. This city is going through a state of business-boom. Currently Norfolk Virginia is projected as the international port city, located near Washington DC and the new light rail system is built. The plan is to link up the light rail system in Norfolk Washington, DC, to shuttle between the two cities in the wind.
Commercial and Residential Property Investment in Norfolk, VA
Another main factor that has helped Norwich to grow in is its rehabilitation and up-gradation factor. Due to deep economic recession in USA, some of the important areas in United States like California and Florida which once used to use for residential and commercial property speculation have undergone a state of melt down. Instead Norwich is attaining increasing attention for rehabilitation, up gradation and more improvement. The construction that took place at post World War II phase not being desirable or appreciated in a fast paced contemporary world, much new construction is being erected and real estate business is growing rapidly. The contemporary luxury housing and sophisticated apartment being in demand most of the real estate groups are coming day after day. Central downtown area of Norfolk (as well as other areas such as South Norfolk and Hampton Boulevard near Ghent) is emerging as the evolution of commercial, residential and mixed use property.
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Public and Private Building Projects near the Tide Stations in Norfolk
Many undertaken commercial and residential projects and some other under construction near downtown in Norfolk are in earnest anticipation of the new Light Rail line which will be open to the public in 2010. Here real estate growth is high with great expectation of massive development. Many reputed hotel chains like Marriot and the Hampton Inn as well as the Westin Hotel and Conference Centre are coming to the scene. Luxury residential projects like, Franklin Condos and Belmont at Freemason are under construction. Public projects, such as Tidewater Community College Student Center, a new main library in the city of Norfolk and Norfolk State University Student Center, is also under construction in time for the opening of the tide.
These public and private projects, no doubt, would encourage and stimulate additional projects in the same neighbourhood.
The Tide?s Route
The Tide is proposed to be start with a station at Eastern Virginia Medical Center and will pass through key points in downtown Norfolk such as Harbor Park and Norfolk State University, and continue on through South Norfolk, paralleling Interstate 264 and terminating at the Newtown Road station, just on the border of Virginia Beach.
These are supposed to be the main reason for the Rapid real estate growth in Norwich. So here is your chance to buy property in Norfolk.
Suman Jalal ?
About the Author:
Andrew Hornby, a Modern Writer, Writes Articles on:
Properties in Norfolk
Norwich properties to rent
Estate Agents in Norwich
Letting properties Norwich
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Tags: buy property in norfolk, estate agents norfolk, residential properties for sale norfolk
Source: http://geologic.biz/east-hampton-real-estate-commercial-and-residential-property-growth-in-norfolk/
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