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New Bedford 2020 - VHB.com

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A City Master Plan <strong>New</strong> <strong>Bedford</strong> <strong>2020</strong>> South Central• Situated south of Downtown, this is a quiet, residential neighborhood with a historic housing stock,and includes the Washington Square neighborhood.• Dwellings include a mix of housing types from the 19 th century consisting of private and subsidizedunits.• Located in this area is the former Morse Twist Drill site, a 3.6-acre brownfield, a portion of which isclean and utilized as a <strong>com</strong>munity garden.• Over recent years, the neighborhood’s racially diverse population has declined significantly.> South End• Located south of Potomska Street, this area offers a mix of uses, including the Ben Rose housingprojects, Dennison Memorial Community Center, and the Orpheum Theatre.• Housing consists of an aging stock that is a mix of owner and renter-occupied.• Similar to South Central, it is racially diverse and has lost a significant portion of its population since1990.> Cove Street• Located north of Mott Street and south to CoveStreet, this area covers the northern portion of thepeninsula.• A densely-populated residential neighborhoodwith a few large industrial sites on the easternside and an aging housing stock that is largelyrenter-occupied.• A number of distressed and/or vacant propertiesare located in the area.• Population is a diverse mix of cultures andethnicities, though the majority is white.Median Sale Price is the selling price of a unitthat falls in the middle between the mostexpensive and least expensive sale price in thearea. It is different than assessed property value.Median sale price is an indicator of propertyvalue and demand for houses in an area. This isa standard indicator used nationwide tounderstand property value, and the willingnessand ability to pay (See Figure 6.3).Figure 6.3: <strong>New</strong> <strong>Bedford</strong> Median Sale Price (1987–2009)$300,000$250,000$200,000$150,0001-FamCondoAll$100,000$50,000$019871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009Source: The Warren GroupNeighborhoods and Housing6-4

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