Top 3 Investment Areas In Pittsburgh Over The Next 4-7 Years

[Account Closed]

"Oh, THAT neighborhood? It's definitely going to be the next Lawrenceville."

I hear this said ALL. THE. TIME. And yet somehow it always seems to be a different neighborhood. Sure there's some overlap in answers. But there's never one consistent answer provided amongst local real estate investors in Pittsburgh. And of course that makes sense since no one can truly predict "the next Lawrenceville" with 100% certainty, but still, why can't all the true local investors come to a general consensus on this topic? Surely there's enough empirical data out there to be able to narrow it down to one solid area that beats out the rest? No?

So here's my question and challenge for all of you. In your opinion, what are your predictions for THE top investment area in Pittsburgh based on overall return over the next 4–7 years? No, strike that, what are your top THREE area picks? That'll help you from having to narrow it down to just one. But here's the challenge, try to support your picks using actual facts and data (NOTE: if you must rely on observation then that's fine, but only as a last resort... observation meaning "I've seen a bunch of XYZ happening, etc, etc, etc"). 

Looking forward to reading everyone's answers and getting this interesting topic going! 

[David Lee Hall, III]

I am not using data because I am lazy (well really it is after 9:30 and I have to take my 1 year old in 5 minutes and don't have time to pull anything). Areas I like for the next 3-4 years:

1. Marshall-Shadeland/California. Why? Continued spillover from North Shore revitalization that has pushed in that direction that will only continue with Millcraft pumping their money into higher end investments along the river. Why Not? Who says the disconnect caused by O.R. Bvld won't keep things from pushing that direction. It could easily go more towards Troy Hill with nicer views of town. 

2. Millvale. Why? Close to the Strip with jobs, already look at investments like the Food Truck Court, Lumberjax, and Griest House that are going to play right into the same type of living you have in Lawrenceville. Why not? I have always felt that town was rather cramped from a getting around perspective. 

3. Moundsville, WV. Why? I am insane. An hour away but the "next" cracker plant is going in here. Cheap taxes, cheap houses, and definitely not as rough as say Aliquippa was for creating rentals. Why not? Have you seen the state of the energy industry lately...

In all reality though, you can look at any historical numbers you want. The debt load being undertaken worldwide and the high likelihood of a serious drop in commercial real estate values over the next 5 years as tenants stop renewing leases in order to stay with work from home solutions makes me take any opinion with a huge grain of salt. There is way too much at play for anyone to have more than just a hunch at this point, but that is like, just my opinion man.