[RP TownTalk] zip code change

Sat Oct 26 17:33:25 UTC 2013

Bruce

You may have lived in the town 5 times longer than I have but there is a marked difference in 'who' is moving in now vs. when I bought in 2008.  Much of this is due to the fact that we are bringing in some of the most exciting development into the County.  I have been approached numerous times by people who ONLY want to buy in Riverdale Park.  I disagree with Chris Currie on some of the points he brought up.  Hyattsville was hit much, much harder by the housing downturn.  When Ashley was looking for housing for over a year, she had to primarily focus on Hyattsville due to the lower prices and the number of short sales and foreclosures.  And please do not interpret my comments to mean that I think RP is in some way better than other towns/cities - University Park, College Park, and Hyattsville are all wonderful places to live with pluses and minuses just like Riverdale Park.  I would not hesitate to buy a house personally in any of the three towns, and have certainly recommended all three to potential buyers.  Each town has a different flavor and it is individual consumer preferences that define what is a better fit for someone - not that any municipality is 'better.'

Chris is accurate in that the Victorian and other historic housing stock did fetch higher prices but given there are reasons for this that are far more complex than just comparing price per square foot such as EYA, UTC, metro etc.  Looking at recent sales data shows a much greater price parity.   Riverdale Park, especially in the central historic core, did not experience the foreclosures or short sale issues to the degree our neighboring cities did.    In Ward 1, there has been very, very limited housing stock for sale over the last 3+ years and when something goes on the market it typically sells quickly.  In looking at June 2012-2013 real estate numbers, in RP houses averaged 8 days on market with a list to sales price >99%.  The points concerning Hyattsville are apple to oranges - it is a city we are a town (i.e. they are much larger geographically and population-wise).  The fact they have 3 zip codes supports the argument towards a new zip code in that it is clear that Hyattsville Hills and the historic housing district fetches much higher prices than other areas of town in different zip codes.

You asked about my experience and I am happy to share it.  You presented an argument concerning affordability.  While that may play into other people's decision making concerning houses, it did not mine.  I had put in several other offers on houses in Logan Circle, DuPont Circle, Colombia Heights, Takoma Park etc. on properties that well were well north in price to any home in Calvert Hills or College Heights Estates.  I was looking for a 3k+ square foot home built before 1900 that had not been carved up.  Price was not a top factor during the purchase process compared to character and amenities.  I looked all over the DMV including as far out as Manassas and Baltimore.  I bought in Riverdale Park not because of its affordability but in spite of it.  I bought in Riverdale Park because I could see what the community had the potential of becoming.

The influencing factors that made purchasing my home were as follows:
-Possibility of the Purple Line
-MARC station in town
-Cafritz/Whole Foods project
-EYA/Busboys and Poets down the street
-College Park Airport (I am a pilot)
-Proximity to DCA and BWI (as well as freeway access)

These are similar reasons to why Ashley bought (tack on the trail system and the mansion and their programming- something often overlooked).  She wanted to buy in RP but at the time was priced out until a foreclosure was listed and she immediately put an offer when it was listed and was lucky enough to get it and do the 203(k) gut-job rehab on it.  The reason she looked in town was due to the new development coming in and the transportation options.  This is part of the generational gap in that what drives consumer decisions is VERY different when looking at Baby Boomers vs. Gen X vs. Gen Y vs. Millennials.  The one commonality is that there is a downward trend through each gap for money  to be a driving force or factor in terms of making decisions regarding real estate etc.  For boomers and Gen X it is much more important than to Millenials  (they want close proximity to entertainment, dining, and transportation [mass}).

We have discussed the zip code under ward reports and/or new business multiple times at meetings (for an example:  http://riverdaleparkmd.info/2013%200401%20Legislative%20Meeting%20Minutes.pdf )
The fantastic thing is that our town has two post offices already (one on Kenilworth, one on Baltimore Avenue) and given the population increases that are expected at both the new EYA townhouses and the Cafritz project, Riverdale Park will be not quite a town any more but not quite a city.  I am not sure I understand or agree that taxpayer money is being spent on this or that somehow other things like infrastructure improvements are somehow being relegated.  Public Works has requested, and I think it makes sense, to do the brick improvements all at once rather than piecemeal (which is inordinately more expensive to contract).  We have numerous issues and policy matters that we are constantly shifting around in terms of implementation timetables.  We are well aware of the challenges and processes involved regarding changing the zip code - but when has an uphill battle ever dissuaded me?  Cafritz was 30+ years in the making and had a lot more moving parts than this.  I don't expect the change to happen immediately but someone has to move the ball if it is ever to be possible.

Respectfully,

Jonathan
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