coatesville-opportunity-zones

Will Coatesville Real Estate Benefit From Its Opportunity Zone?

With Opportunity Zones continuing to be on the minds of real estate investors, one Pennsylvania Opportunity Zone that could be poised for tremendous growth is in Coatesville. The Coatesville Opportunity Zone has several positives outside just the OZ incentives.

Vista.Today has a recent article, Coatesville’s Future Isn’t in Our Rearview Mirror, highlighting the changes happening around Coatesville:

Despite repeated and well-intentioned initiatives over the years, Coatesville was seen by many as distressed and unable to summon the vision or willpower to rise up and revitalize itself on its own.

That all started to change 10 years ago when city leaders, local clergy, county and state politicians, together with civic and business leaders, began imagining what a revitalized Coatesville might look like and began working incrementally toward that vision.

Today, the city’s “Green Tape” policies make it easier than ever to apply for and receive building permits and code changes.

A LERTA program, meant to offer tax abatements to developers who invest in and redevelop difficult or undesirable properties, is in place.

 

Another excellent benefit for Coatesville is being located in Chester County which is experiencing tremendous growth and is among the most affluent counties in Pennsylvania along with being one of the healthiest counties in the US. Patch.com has an article on it, Chester County Among Nation’s Healthiest Communities: U.S. News.

Chester County is in the top echelon of the nation’s healthiest communities, new rankings say.

Released on Tuesday, the 2019 healthiest communities rankings are a joint collaboration between U.S. News & World Report and the Aetna Foundation. To come up with the finalized list, U.S. News and the Aetna Foundation evaluated nearly 3,000 communities across multiple health-related metrics in 10 categories.

Chester County placed 117th overall, just behind Pennsylvania leader Montgomery County (110th) and ahead of Bucks (174). Those were the only three southeastern Pennsylvania counties to make the list.

 

NBC 10 Philadelphia highlights another big change coming to Coatesville, SEPTA Set to Resume Regional Rail Service in Coatesville. The return of SEPTA regional rail service could potentially be a bigger boost than the Opportunity Zone designation.

After more than two decades away, Chester County and SEPTA officials announced Thursday that regional rail service is set to return to the city. The move is part of a larger effort to revitalize Coatesville…

The nearest SEPTA train service is the Paoli/Thorndale line, which goes only as far as the Thorndale station, about 3 miles from the current Coatesville Amtrak station.

The new train station would be located at Third Avenue and Fleetwood Street, and service would not begin until the station’s completion. However, though the county commissioners promised $1 million to fund a parking lot for the station, it’s still unclear when the Pennsylvania Department of Transportation will complete its construction.

If you are an investor who is considering buying real estate in or around Opportunity Zones in Pennsylvania, then it definitely could be beneficial to check out what’s happening in Coatesville.