When it comes to positive contributions made to the revitalization of neighborhoods in cities enjoying a period of sudden and widespread growth, Jared Londry can cite countless sales of commercial real estate properties within cities clearly on the rise. Whether it is the sale of the South Tryon office tower, the Fort Mill office buildings or the prime real estate in SouthPark, Londry has been a consistent and key figure and has experienced firsthand how the commercial sector can breathe life into a stagnating city by stimulating commercial growth in a significant and ongoing way.
While Charlotte and many of the other cities throughout the Carolinas have taken advantage of similar factors driving impressive growth in recent years, perhaps there is no example more compelling than the remarkable turnaround of some of New York City’s most notoriously underperforming boroughs. Brooklyn in particular has undergone a near-total transformation due at least in part to the influence of the commercial sector and its involvement in attracting more and more potential residents to the once-overlooked area.
Residential and commercial properties in Brooklyn that could once be had for nothing more than a song now routinely sell for millions of dollars, and there are other cities throughout the United States and abroad in which similar opportunities exist. This is especially the case in areas like New York City, in which the underdeveloped neighborhoods bordering already-thriving areas represent an ideal opportunity. This may be why developers in Tijuana, Mexico, have high hopes for a project targeting Old Tijuana, where abandoned buildings and a lack of commerce keep visitors from venturing into a historic neighborhood that holds a natural and immediately evident appeal.