Student Ghetto Losing Ground To Family Conversion Trend
Philadelphia's University City neighborhood is seeing existing housing stock moving full circle; having gone from single family to multi-apartment student rentals, it's being reborn as quality family housing.
Over the past decade Pennsylvania University has partnered with its surrounding area to improve local schools and businesses. With its new cachet, the University City area, once down at the heels, is becoming a hot spot for Philadelphia's younger home buyers. Large old homes, once cut up into student apartments, are being converted back to family homes filled with everything for a 21st century lifestyle.
"...large Victorian homes in West Philadelphia are attractive property for young couples seeking to purchase their first home."
"The houses we have have been beautifully rehabbed with high quality finishes," said sales associate Sharon Turner. "People are looking into these houses because they can get a home twice as large for the same price in this area."
Penn students are feeling the effect of the student ghetto's gentrification.
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Sounds good to me
I'm glad to hear that owner occupancy is returning to this neighborhood. Though, the specter of "gentrification" could be looming, but I don't think it is much of a problem, because those most affected (assumed from the article) are UPenn students, and is that a problem?