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Daily Real Estate News | September 25, 2008 | Businessweek: Up-and-Coming Neighborhoods
Artistic people like to live where it is gritty, near neighbors who are tolerant of noise and odd behavior, and where the price is right.

In many cities they have led the way for urban renewal, setting the stage for redevelopment. After they have done the hard work, investors, developers and wealthy buyers arrive, pushing up rents and displacing the artists, who go seek out the next undesirable neighborhood.

Businessweek.com has selected 15 urban neighborhoods that artists have discovered and where adventuresome homeowners, willing to take a risk, are likely to see big returns in the coming decades.

Here are these up-and-coming neighborhoods:

Atlanta, Castleberry Hill
Austin, Texas, East Austin
Boston, Jamaica Plain
Chicago, Pilsen
Los Angeles, Echo Park
Miami, Wynwood
Minneapolis, Northeast
New York, Bushwick, Brooklyn
Philadelphia, Northern Liberties
Portland, Ore., Alberta Street Arts District
Raleigh/Durham, N.C., Downtown Durham
San Francisco, Mission District
Seattle, Georgetown
Shreveport, La., Highland
Washington D.C., Atlas District (H Street)

Source: Businessweek.com, Prashant Gopal (09/23/2008)