VIC Gentrification possible?: frankston, ambassador

This thread is this dwelling specific

Melbourne's cheapest apartment: but could you ever live there?

Surely as frankston prices rise. The undesirables will move out. And these places will rise in value?

Or is the only thing stopping it now is the clause of no owner occupiers??

 

I looked at the complex in 2010.... glad I didn't buy there. I wouldn't touch it with a 10 foot pole.
Best thing to do would be to knock it down and start afresh but to try to get all owners on the same page would be impossible.

 

I saw that article on news.com too, there are too many units in the complex (previously motel) and the place will need renovation. The main issue is quality tenants will not live there. The appeal and history of the place will affect resale value.

 

Ambassador is in the news again Category: | Herald Sun

Not far away - is the Young St works (back in August)

 

An opportunity has come up with a front unit in the Ambassador for sale 110/325 Nepean Highway Frankston Vic 3199 - Unit for Sale #127681722 - realestate.com.au

Use it to establish your own 'Rainbow Religion' with full body immersion baptisms in the foyer.

The already done stained glass work and turret gives an amazing feeling of peace and awe

 

those highway views are the clincher!

 

With all the FHB's moving into the area, The Ambassador's days are numbered, I'd say.
Ridiculous. Clean it up!

 

However it's seen as 'affordable rental housing' and there's big problems with homelessness

 

I thought there might have been some strata rule that tenancies in the complex couldn't be longer than 6 months?
Or maybe just the fact OOs can't live there... that's bad enough.

 

I'd say is possible... but going to take say 20+ years and a handful of cycles to flush out the ghetto demographic. Given the proximity to Melbourne, why couldn't it be a Newcastle or Wollongong equivalent in due course?

 

Frankston is really part of Melbourne. I don't think it would stand in its own right like Geelong, Wollongong and Newcastle does. I don't think local jobs are sufficient.

 

Yep good points.

Maybe say Parramatta and Campbeltown better analogies of somewhat gentrified areas compared to past decades?

 

Fair enough but affordable housing has to be safe, clean and stable at the very least. No owner occupiers - sounds like some hairbrained idea from the 70s?
For such a good council and with all the new work going on and lovely young people moving into the area, this sort of thing sticks out like a sore thumb.

 

The Hills. Previously known as Baulko.

 

Maybe. But I've been a local for over 40 years and never considered Baulkham Hills to be a bad area.

 

Not sure what your point is.
Anyway, if it's true that you've been there for 40 years, you would've seen some of the massive changes to the area that I've seen. Including cleaning up bikie hang-outs, druggie drop-ins, enormous distance from cbd, etc, etc. I thought you were only 26 or something.
Back to the point of the thread: Frankston undergoing massive changes.
Not really wanting to engage with you thanks Gockie as I find you a bit trollie. Maybe just keep your posts generally on-topic and not specifically directed towards me. cheers

 

Nothing to miss out on in this ambassador...

 

I'm definitely not targeting you by any means... just commenting that I grew up not far from there (actually in high school I used to play tennis and my team's home courts were courts at Ted Horwood reserve in Baulkham Hills).... I never found Baulkham Hills to be a bad area.

 

That's great Gockie. Yes, Baulkham Hills has always been a good area, I couldn't agree more - despite the bikies, drugs, unemployed, distance, complicated transport systems, etc. In fact, only 20-30 years ago it was referred to as the Bible Belt: conservative working class.
15 years ago, when people advised, "Don't go too far out", it's the kind of place they were talking about. How times change!
A lot of my friends grew up in the area. Now there's pressure to conform but from a different source - the dangers of going against the norm are more real than ever. My guess is that you're familiar with it.
I wonder why your parents chose to live so far out? 31 km from cbd was quite a trek in those days. The roads were cruddy and the public transport disjointed and elusive. There certainly weren't many people of Chinese background there 40 years ago before Tianamen Square. Your family would've been one of the first to move to the area.
But this thread isn't about you and your extra curricular activities. Let's remember we're talking about Frankston here - and specifically, The Ambassador.

 

My extended family were actually one of the top 10 richest chinese families in Australia. But my parents were normal people so they bought were they could afford like most others. And yes... my primary school... we were the only chinese kids in that school for a while.

I never knew anything about bikies or any drug or unemployment issues around the Baulkham Hills area. And wtf do you mean by the roads were cruddy? They were just normal tar sealed roads not disimilar to todays....
Honestly there are many worse areas even going back in time. For example, as a kid I understood areas such as St Marys, Fairfield and Cabramatta to not be good areas. (Cabramatta has certainly changed!) And nothing wrong with the Hills having the reputation of being the bible belt of Sydney. It actually made the Hills quite well known. Though I think that (being known as the Bible Belt) has changed too, everybody has been more focused on the upcoming train line and the schools.

Back to Frankston...
Im going to conpare Frankston to Mt. Druitt.

Frankston is nicely situated on the bay but the factors that detracts from it is the distance to the CBD and the drive to the CBD is long. I don't think there is enough local employment too. I'm not sure Melbourne water temperature make swimming as pleasant as it could be if Melbourne was further north, so the desire of the beach isn't nearly as strong as the pull of being near the beach for homes in Sydney.

I think the metropolis of Melbourne will keep growing in a westerly direction, taking some pressure off house prices to rise other affordable areas of Melbourne. Melbourne has plenty of scope to keep growing in that direction. To contrast, this hasn't been the case in Sydney where the only available blocks of land for new builds are in really far flung areas to the SW, W and NW directions so that's why Mt Druitt (basically this has been considered the worst area of Sydney by most Sydneysiders) has gone up so much in the last boom. It has an affordability that other parts of Sydney don't have and there really aren't any alternatives if you want to buy a house in a 600k budget, (unless you wanted to buy inhe Central Coast but that's a long commute and then most people don't consider that as Sydney), thus this is pushing up prices. But Melbourne has plenty of alternative areas people on a budget could consider. people have been wondering if Frankston will gentrification for a long time - definitely I'm sure during SS days it was a topic - I don't know. Maybe it will keep going up in price in line with the rest of Melbourne or maybe it will outperform Melbourne (to a degree) as a whole. Perhaps yes to slightly outperform but I don't know for sure.