- June 19, 2020
“TheFifth Ward : Our Space is a Great Place”is an article written following a survey conducted in regards tohouse marketing analysis. The city of Houston Tax IncrementReinvestment Zone (TIRZ) #18 hired some professional to carry out astudy aimed at investigating the housing market in the Fifth Ward andthe neighborhood (Clemons, 2011). The Fifth Ward RedevelopmentCorporation is acting as the overseer of all the projects. This studyaims at finding out the demand and supply of housing in Houston.According to the author, Fifth Ward is a neighborhood that has awealthy and sophisticated history. The authors argue that for FifthWard to move on as a community, they must understand their historyand identity entirely. The name originated from the one of theHouston city’s government. Initially, the Houston city was dividedinto four major wards as a representation of the communities in thecity government. Before the Civil War, the Houston City wasunderpopulated, with only 2300 people (Clemons, 2011). After the War,federal occupation and liberation made many people move into thecity. With time the Houston City was overpopulated that led to thecreation of a Fifth Ward.
TheFifth Ward provides a detailed marketing analysisregarding the present and the future housing marketing in the FifthWard (Clemons, 2011). When conducting the research, the researchersused various parameters such as school performance, demographics,crime statistics, and economics to scrutinize the current conditionof the neighborhood. I believe the investigator’s use theseparameters are is crucial in determining the status of a place.Nonetheless, it also plausible to consider other things wheninvestigating the condition of the neighborhood. In their analysis,they indicated that Houston City is composed of single family homesas compared to the area of study. Additionally, they reported thatmultifamily properties in the Fifth Ward show strong occupancy, andlow rent levels.
Consequently,the housing study gave an outline of some of the developments thatcould be done in the area. First, the researchers proposed thedevelopment of heritage homes. These are affordable homes which areconstructed on spread sites in concurrence with Fifth Ward CommunityConstructers and Fifth Ward Redevelopment Corporation. Secondly,there was a recommendation to develop Lanterra home, which will beurban style single- family homes that will be constructed on thelower side of the Frenchtown (Clemons, 2011).
TheFifth Ward housing study incorporates a scrutiny of single-familyhousing development economics. In this analysis, the study indicatesthat despite the higher costs of making higher designs insingle-family homes are financially realistic. Additionally, the reported that job opportunities in the Fifth Ward aremore than those in the Study Area.
Moreover,the study has outlined some the current housing issues and barriers.The first issues include historical connection. According to thefindings of the survey involved have different expectations andmotivations and therefore in need of various types of housingproducts. Additionally, there is a sparse supply of quality retailestablishments, which reduces the notion of neighborhoods in the areaunder study (Clemons, 2011). Lack of safe footways and inferiorstreets many hinder potential residents who need a walkable urbanenvironment. Additionally, former industrial sites are likely tohave environmental problems.
Inconclusion, the Fifth Ward Housing is an informative study thatoutlines important aspects of house marketing. A team of experts inthe housing industry carried out the research and gave a differentperspective to help in coming up with ultimate findings andsuggestions. The study provides strategic recommendations that couldbe used in developing a housing implementation plan. In other words,gives investors an oversight of the things that could help them inmatters relating to housing.
Clemons,H. (2011). A Tirz 18 Initiative: Thefifth ward housing study: Our space is a great place.Houston: Yes Prep Academy.