“The yuppies that view the area as “edgy”,”hip”, and “cool”, are the same people that bought condos at top of the market and/or on subprime loans. Many of them will face foreclosure and no longer be able to buy from the fancy soap store.”
it’s the yuppies that go into a place and suck the life out of it. hillcrest, little italy, downtown… they were cool before because there were good places to go for cheap.
boheme (along with all the other new condos) should have been built for the current residents, not for “investors” and yuppies. gentrification happens when you have the residents take ownership of their community and when the resident’s increase in net worth. not by trying to drive out the “bad” ones and importing “good” ones.
iirc the majority of np is rental as is. unless that changes, np will remain a ghetto.
btw, there’s another new condo building up the street at the site of the old bowling alley. a god ugly building that looks like an old school building rather than a condo. they were asking some 500k per unit last spring, they recently repriced in the 400’s. after the auction, see how much lower they go. and what happens to those senseless fools who bought way back when.
