Chestnut

A low-income area in East Austin, the Chestnut Neighborhood is a grid of small homes that are generally well kept and affordable. Single family homes here range from $130,000 on the low end to $330,000 for homes that have been newly constructed. There are new businesses in the area and it is for the most part a safe and quiet neighborhood. An investment here could bring dividends if the area continues to show improvement. There are also a number of vacant lots at affordable prices ready for new homes to be constructed.

The neighborhood does have its advantages as well. It's a short drive or bike ride to the University of Texas at Austin and all of the great entertainment options around the school. A short distance to the south is Town Lake. Chestnut is served by the Austin Independent School District and there are private school options within a reasonable distance. For the city of Austin, there is a distinct lack of dining options in the area and while there are a couple of nightclubs, they are not of the variety that you would want to visit at night.

This small Austin neighborhood is another on the east side in a significant state of transition. Because of its prime location just across the Interstate from the University of Texas, and close to downtown, the Chestnut area was ripe for this kind of attention.

Bounded by Martin Luther King Boulevard to the north, 12th Street to the south, Chicon to the west and the Northwest railroad tracks to the east, if one was unaware of Austin’s east/west divide, this would seem to be the perfect spot to settle in. For those willing to experience living in the midst of a gentrifying neighborhood, it actually may be perfect. This is an historically African American and Hispanic neighborhood that suffered from years of neglect. It had a reputation for higher crime, and many residents lived below the poverty line.

Efforts by the city and area residents lead to a concerted effort to improve the Chestnut neighborhood and make it a much safer and attractive place to live. The results, at least in some parts of the neighborhood, have been quite dramatic. New businesses have been attracted to the area, rundown homes have been torn down to make way for new development, all giving Chestnut a newer, hipper feel. Housing prices remain more affordable than other parts of the city, particularly those so close to the action. An older fixer-upper can be bought for the low $100s, while some of the newer remodeled homes run in the mid-to-upper $200s. No schools are found within this small neighborhood’s boundaries, but nearby are Campbell Elementary School, Kealing Middle School and McCallum High School.

Like so many east Austin neighborhoods experiencing rapid improvements, the results have had both good and bad points. Crime is down, the area is experiencing some economic regrowth, and new families, young professionals, and business owners are moving in. But all this growth often comes at the expense of the lower-income residents who have long called Chestnut home, who find they can no longer afford to live in what has become a much more livable neighborhood. Still, for those who are looking for a central Austin neighborhood with lots of character, and don’t mind the mix of sketchy and new, Chestnut warrants some serious consideration.

This is hopefully a neighborhood that will soon see rejuvenation like other impoverished minority areas in Austin. Houses are small, but built to last and extremely affordable. Now would be the time to buy up property here and flip it, if you’re into that sort of thing. Private revitalization and urban planning companies have started to take an interest in the area, so it’s just a matter of time before the neighborhood has some life pumped back into it (if it’s not gentrified altogether). It’s also a relatively safe place for students or professional individuals just starting out to rent houses. It’s very close to UT, the Eastview ACC Campus, and I35. The neighborhood has a number of small parks nearby, and a variety of churches to help connect the community residents. There aren’t really many restaurants or entertainment options, as the neighborhood is primarily residential. There are numerous bus stops on the areas main streets, but most residents rely on cars to get around. But it is nice to have the option of biking or walking to other areas close by. It’s safe enough that one can do so with little worry during the day, and caution and awareness at night.