Chatham Square Neighborhood Association Presentation to Realtors
Chatham Square Realtor Presentation
May 24, 2015
Understanding and influencing the market position of you neighborhood works!
I prepared this presentation in collaboration with the organized residents of Chatham Square neighborhood. It is for a 50 minute tour of the neighborhood. Local realtors that were invited were initially hesitant to make the time for the tour but eventual 14 did. The outcome is that we now have 6 houses and counting where residents and\or realtors attribute the purchase to information residents collected and disseminated.
This is just one way in which residents can take charge of property values and improve the quality of life of in their neighborhood.
I prepared this presentation in collaboration with the organized residents of Chatham Square neighborhood. It is for a 50 minute tour of the neighborhood. Local realtors that were invited were initially hesitant to make the time for the tour but eventual 14 did. The outcome is that we now have 6 houses and counting where residents and\or realtors attribute the purchase to information residents collected and disseminated.
This is just one way in which residents can take charge of property values and improve the quality of life of in their neighborhood.
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Transcript
Chatham Square Neighborhood AssociationPresentation
to
Realtors
Chatham Square New Haven
Chatham Square
Downtown
Chatham Square North-East corner of Fair Haven
Qui
nnip
iac
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Chatham Square Relevant Market Findings / Community Descriptors*
3,500 people
1,100 households
42% Hispanic
Median Income $33k
Solid housing stock, mostly 2 and 3 family structures
Homeownership rate 45% in north, 28% in south and west (citywide rate of 31%)
*Source: Holt, Wexler, Farnam Urban Neighborhood Strategy Presentation Sept. 2005
WhyChatham Square
Residents want to help close sales Nearby waterfront Logical extention of stronger waterfront market Reinforce waterfront homeownership market Historic houses Two nearby commercial corridors Proximity to anchoring institutions and sources of
employment: Mary Wade Home for the Elderly; Clinton Avenue School; manufacturing
Community gardens and greenspaces Nearby primary schools: 6 public, 3 private, 1 national
recognized charter
Chatham Square
Healthy Neighborhood Approach* “Healthy neighborhood”: place where it makes economic sense to
invest time, money, and energy, as well as where neighbors successfully manage issues
Focus on participation in real estate market, rather than protecting residents and prospective residents from it
Strategies are about cultivating demand for homes and rental units, not producing supply. A key value is to create a place that is attractive and affordable to a variety of income groups.
Residential real estate market is valued as a key barometer of neighborhood health. Home value represents the capitalization of all neighborhood assets; therefore strategies focus on this area.
Intensive, meaningful, ongoing discussion and relationship-building with and among residents is valued
Resident-defined outcomes are combined with realtor insights (strategies and tools)
Focus on achieving resident desired outcomes
*Source: Fall Creek Consulting
Chatham Square What Does Not Work: Community Analysis
Drug sales, public drinking, and related crimes, especially in and around the park
Street litter, especially on the Clinton Avenue side of the park
Houses in need of repair Traffic flow and noise Homeownership: lower than city average south and west
of park Public infrastructure (sidewalks, park, public lighting)
needs work
Chatham Square What Works: Community Analysis
Committed residents Parks, gardens, and other public green spaces Diverse community (cultural, economic, ethnic, racial) Home-Buyer Incentives programs: Mary Wade Home,
Foundation, Yale Historic houses 2 & 3 family houses Three local grocery stores, two commercial corridors Proximity to bus routes, highway, waterfront, parks Rehab of Quinnipiac Terrace & addition of 8 owner-
occupied housing units Ten primary schools: 6 public, 3 private, 1 award-winning
charter
Chatham Square Neighborhood Association Plan*
*Approved :January,2007
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