A Closer Look at Erie’s Booming Bayfront District
Feature Image Credit: PennDOT
Erie, Pennsylvania’s Bayfront District has been in the limelight recently, and for good reason. With its beautiful view of Presque Isle Bay, an ever-growing list of attractions, and some extensive development plans, it’s become one of the hottest spots in the Gem City.
Whether it’s because of the charming walkability of the area or quick access to the waterfront, many buyers and investors are interested in finding a home or property in the Bayfront District, most notably in the West Bayfront. What’s more, many sellers have been fetching above-market prices for homes because of this area’s desirability. With so much buzz around the Bayfront District, Maleno thought we’d talk about some of the latest updates.
The Parkway Improvement Project
In February 2024, PennDOT announced the Parkway Improvement Project, a massive 111.7 million dollar reworking of the Bayfront Parkway to improve traffic flow and access to downtown and waterfront establishments.
More specifically, the purpose of the Parkway Improvement Project is to:
- Improve the pedestrian, bicycle, transit, and passenger vehicle connections between the Erie Central Business District and adjacent neighborhoods to the waterfront property north of the Bayfront Parkway
- Reduce crashes on the parkway as much as practical
- Decrease future congestion to an acceptable level of service or delay
- Increase traffic operations and efficiency
Once completed, likely in the summer of 2027, the Parkway will include a multi-use trail connecting the existing trail network, downtown, and the waterfront, an overhead pedestrian bridge at Holland Street, upgraded sidewalks and crosswalks, and hybrid roundabouts.
East Bayfront Parkway Safety Improvement Project
The East Bayfront Parkway is also receiving some major upgrades through the East Bayfront Parkway Safety Improvement Project, a safety project on East Bayfront Parkway from Port Access Road to East 12th Street in the City of Erie. As it stands now, the project includes:
- Raised medians to promote traffic calming and lower travel speeds
- Pedestrian improvements
- Traffic lane widths will be reduced by a foot
- A micro-surface application on the pavement
- Advanced radar detection, LED signal heads, and retimed phasing at intersections
If you want to provide feedback on the project, you can submit comments to PennDOT.
Promising Property Updates
Over the past decade, investors, homebuyers, and various nonprofit organizations, such as Young Erie Philanthropists and Our West Bayfront (OWB), have been rapidly fixing blighted properties. Tom Hagen, chairman of the board of Erie Insurance, has also been working over the past few years to purchase and restore numerous historic properties across West Sixth Street, also known as Millionaires’ Row.
With the Bayfront District also being located in an Opportunity Zone, which provides tax incentives for investors, there are strong indicators that this area will only continue to grow and improve.
When it comes to real estate, a rising tide truly does raise all boats. Collectively, with all of the improvements to public areas, such as Bayview Park, Gridley Park, Westerdahl Park, and private property, the community is becoming more vibrant by the day.
All of this investment in the Bayfront District has also put home sellers in the area in a unique position. With the right strategy and support, they can sell expeditiously, with few contingencies, and see a healthy return on investment.
Ever-Growing Community Amenities
From small mom-and-pop shops and bodegas to waterfront hotels and restaurants, the Bayfront District has blossomed into a dynamic and lively community for just about any lifestyle. It’s also one of the most walkable neighborhoods in Erie, with access to incredible views, the city’s most significant events, newly restored parks, schools, a university, and even medical facilities. Having so many community assets in proximity comes with many benefits. For instance, walkable neighborhoods are associated with:
- Healthier lifestyles
- Improved safety
- Increased social interactions
- Increased productivity
- Increased property value
- Stronger local economies
Buying & Selling Homes in the West Bayfront
Erie, PA, is still a hot seller’s market, and no neighborhood is a better example of this position than the West Bayfront. However, we recommend those interested in buying and selling in this area find a seasoned real estate agent.
For buyers, it’s essential to find a home that doesn’t force you to make concessions you’ll regret down the line. In a hot market, you may feel pressure to buy a home that requires more maintenance than you can feasibly manage. You also want a seasoned negotiator to help you formulate an offer.
For sellers, an experienced Realtor can help you decide on a sound sales price, maximize property value, photograph your property, create a 3D tour, host an open house, give private tours, and negotiate with buyers. While properties are still selling quickly, an agent will also help ensure you’re not leaving money on the table by selling too early.
Whether you’re looking for your bayside dream home or you’re ready to sell your West Bayfront property, Maleno can help. From listing to closing, our principal broker and realtors will guide you through the entire process. Contact Maleno today to see how we can help.
