Emerging Neighborhoods the Silver Tsunami and Millennials are the Wave of the Future

Fishtown vibrates with energy as youthful hipsters, musicians, and new wave baby boomers patronize the hip shops, whiskey makers, and artisan modern designers. Burningman transplants (Burners,) artistic metal workers and mustache wearing, shabby chic, post-punk geeks unite in a progressive sonic boom of trendsetting igniting business in a classic display of neighborhood gentrification.

Fishtown is a prime commercial investment opportunity for up and coming New York City specialty stores wanting to extend their brand and to create a buzz in a trendy venue that boasts lower real estate prices than Nolita, Soho, The Village, Harlem or Brooklyn.

Closer to Center City is Northern Liberties where housing prices have soared. There is still room for growth. This friendly and progressive community is close to public transit (The El) and was bullseye of North Philadelphia’s explosive real estate boom that is still in full swing. Northern Liberties is home to mixed-use retail with new construction being built to no end. Ample square footage of storefront, office and retail space is still available for lease, although the ticket price is rising. If you have a hot product or business then this is the location that will get you noticed.

We know Nolibs and Fishtown. Eateries, breweries, coffee shops, arts, and entertainment
Centers are growing. Retailers that set up shop next here will find themselves riding the coattails of a new wave of customers.

Growth is not just limited to Fishtown and Nolibs. Surrounding areas, like Kensington and Port
Richmond is experiencing unprecedented growth fueled by the “silver tsunami” (baby boomers) and millennials who are moving back to the cities. These cohorts are seeking great food, entertainment, and proximity to work.

Industrial conversions, warehouse lofts, true repurpose, whispers of boutique hotels and a new wave of retail and mixed-use development embrace South Kensington. With millennials on its mind, rentals here can be found as low as $750 a month for a 1 BEDROOM apartment and as high as $3,000 a month for an 1800 Square foot luxury loft.

Townhomes are under construction at 5th and Cecil B. Moore Avenue, reflecting a reversal of the dismissive attitude of only a few years ago. American Streets industrialists, warehouse washed landscape offers the new opportunity to visionary developers and progressive businesses adding to the growth of this scene. Just north of Girard west of 2nd St, the ripple effect of the Bart Blatstein Piazza project, now rumored to be owned by the likes of presidential related real estate tycoons, births more large-scale mixed-use developments right in the cut of-of all the excitement of Nolibs and Fishtown; fueling the fire of food, arts and a cultural boom which attracts locals and suburbanites alike.

Port Richmond, unlike the other Center City District surrounding communities, has never been considered “blighted.” This quaint neighborhood replete with historic and charming homes is now on an upward trajectory. Trendy eateries such as the Mercer and Hinge Cafes along with Bait & Switch restaurant offer space to hang out while new construction is being developed. Homes can still be purchased at very reasonable prices. A small house rents for $850 a month and sells for $110,000. Port Richmond runs from Lehigh to Castor and Aramingo to Richmond. As the City moves outward Port Richmond offers great value and a high threshold for potential appreciation for the money.

What defines these neighborhoods and makes them attractive to former outer ring residents is the convenience to their jobs and services, as well as accessibility to unique products, experiences and world-class restaurants.

It is clearly indicated that Philadelphians love their favorite New York Brands conveniently close to home. Any of these neighborhoods offer New York City retailers, service providers; specialty stores a unique value proposition for growth and investment.

New York Buys Philly is a leading boutique commercial and residential real estate firm providing accurate market knowledge from the beginning to the end of a deal. Our three decades of combined experience offers our clients access to an insider’s view of all aspects of the real estate market in the Philadelphia area. Depend on us to assist you with all your commercial real estate and residential needs including development, leasing, business, and marketing to create solutions to champion your business successfully in the Philadelphia marketplace. Contact us at NybuysPhilly.com and let us show you what you have to gain in Philadelphia.

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