Millennials Move Into Hip, Young Neighborhoods–and So Do Their Parents
It used to be that when millennials moved out of the house (finally) and got a place in another neighborhood or even another city, their empty-nester parents would move to a sleek condo in an age-appropriate hometown downtown. No more. These days parents are following their kids to new cities and neighborhoods. From the Philly Post:
The more of them that have moved to Philly, the more their parents have followed, effectively relocating the entire nucleus of the family. And this flock of empty nesters isn’t necessarily landing solely in the city’s condo core. They’re also moving to neighborhoods that an ever-expanding Center City District is gradually absorbing, like Graduate Hospital and parts of South Philly.
The influx of those 55 and older is a boon to the city: They have more disposable income, retirement accounts and leisure time. And they’re coming to “transitional” neighborhoods:
“We just generally thought it would be a more interesting place to be,” said Rick Harris, who moved with his wife Maryanne to a house in Fishtown in January.
The couple had lived in upstate New York beforehand; their son lives in South Philly.