Midtown West | Who lives here | Communities
Midtown West is located from Hudson River to W. 59th Street to 8th Avenue to W 34th Street and has an average of $1,512.00 per square foot of homes. Midtown West has been referred to as Clinton or Hell's Kitchen. Relaxed zoning in Midtown West real estate has created a major real estate boom.
High rise developers are being built now as well. The only thing that still resonates now are the wonderful ethnic eateries. Today tons of artistic studios and many performance venues are located in Midtown West.
What is Gentrification in Midtown West? - Gentrification happens when renewed interest in a neighborhood. Poorer Pre-Gentrification residents who are unable to pay increased rents or property taxes are pushed out and must relocate.
What is a subgroup? - A subgroup of Gentrification is women. Women are getting higher paid jobs and increase in education. Thus women are joining the opportunities to invest.
Who else is buying in Midtown West? - Artists are ready willing and able to purchase fix up properties . They have the cash and skills it takes to rehab a property. Buying outside the typical "suburbs" is perfect for this subgroup of Bohos.
But as these subgroups influence their surroundings, it is the generic yuppie type that barge in and eventually push out the very core that changed the landscape, ie the Bohos, artists, and women.