News
BRIGHT FLIGHT TO DOWNTOWN
January 11, 2011
| Congrats, nerds. "Bright Flight" is no longer the term used for running from lunch-money-stealing jocks. Today, it's evidence of adramatic shift in the location of housing demand—young people who want to live in downtowns rather than 'burbs, says Jonathan Rose Cos president Jonathan Rose (who will be speaking atBisnow’s Multifamily Summit on Jan. 28). |
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| Boomers (less drawn to the sand states) also want to be downtown, Jonathan tells us. There's an increased preference for renting versus buying, too. This demographic shift has been seen nationally, but the tremendous influx has particularly benefited New York, he says. Apartments in downtowns near transit centers are doing well in suburban cities like New Rochelle, Stamford, and White Plains(his firm and the Malkin family are building Metro Green in Stamford, an apartment project near Metro-North, and its first phase is 100% occupied). Hear more from Jonathan—including consumers’ response to green building—when he joins some of the top names in multifamily real estate, including our newly announced speakers: Abacus Capital Group’s Benjamin Friedman and Massey Knakal’sJames Nelson. Great networking too! Click here to see all speakers and register. |
