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The End of Suburbia is Nigh

Posted by: In: Real Estate 21 Apr 2014 Comments: 0 Tags: ,

Young professionals are heading to cities and some have vowed to stay, forsaking the suburban life completely.

Some suburbs have seen the number of their younger residents shrink dramatically over the past few years, and they’re trying to figure out ways to lure young professionals back, The New York Times reports.

photo credit: fd via photopin cc

For example, some suburban towns are trying to make themselves more appealing to younger residents by constructing more affordable apartment complexes or appealing more to their lifestyle, such as with concert venues, diverse restaurants, or added bicycle lanes. Some cities near train stations are taking it as an opportunity to refresh their downtowns. For example, Westbury, N.Y., a village of 15,000 people, is building 850 apartments – condos, co-ops, and rentals – near the train station in the hopes of attracting more younger residents. It also added a new concert venue.

Suburban towns are responding after recent population reports have put their age breakdowns in perspective. For example, Westchester, Nassau, and Suffolk, N.Y., have seen their populations of young professionals decline. Rye, N.Y., has seen a 63 percent drop in 25- to-34-year old residents and a 16 percent decrease in 35 to …read more

Source: Realtybiznews



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