Sylvan Park is on the move!

More good news for Sylvan Park investors and homeowners.

Sylvan Park driving interest in Charlotte Ave.
Nashville Business Journal - by Eric Synder Staff Writer

One of the engines driving interest in the Charlotte Avenue corridor is barely visible from the roadway itself — the Sylvan Park neighborhood.
Defined roughly as the area bordered by Murphy Road, Charlotte, Interstate-440 and Richland Creek, homes in the area tend to be 70 years old or more.
The area began to gentrify in the mid-1980s, according to Richard Exton, of Manier and Exton Real Estate Appraisers. Though the ball had already begun rolling, the rejuvenation began to truly pick up speed about 10 years ago, according to Lisa Friedman, a real estate agent with Village Real Estate Services who grew up near the neighborhood and bought inside Sylvan Park nine years ago.
“Sylvan Park has a cache now that it didn’t once have,” Friedman said. Proof of this is available on real-estate listing websites, where homes for sale in nearby neighborhoods attempt to co-opt and expand the Sylvan Park label.
Though gentrification is largely complete in Sylvan Park, the degree and amount of renovations has continued to increase in the neighborhood as demand has warranted, Exton said. Sylvan Heights, an area located closer to 440, saw gentrification begin around the mid-1990s.
Prices in the neighborhoods “really have skyrocketed, probably until 2007, when everybody began to see declines,” Exton said.
In Friedman’s case, she bought her home for approximately $130 per square foot. As a rule of thumb, most houses in Sylvan Park now go for $200 per square foot, Friedman said.
Friedman said young professionals are among the most popular groups moving into the neighborhood, while more established households are moving up into new historical replicas, which can run for $600,000. Located near HCA, Friedman said the neighborhood is also home to a number of Vanderbilt employees.
Some 2,000 homes are in the Sylvan Park area, nurturing local businesses along Murphy Road and opening the door for redevelopment along Charlotte.
“Retail follows slowly, but it does follow. When your demographics improve, your retail is going to improve,” Friedman said.


Read more: Sylvan Park driving interest in Charlotte Ave. - Nashville Business Journal