Down Town Redevelopment Spikes the Economy in Evanston, Illinois and Offers Diverse Issues
Evanston is known mostly for being the Northwestern University town. It is home to several other institutions of higher learning as well, which in concert have been the draw for the majority of new residents moving into Evanston in the past. However, the down town redevelopment project has moved a dying suburban town toward becoming a growing economically stable, thriving community with a new generation of professional urban homeowners.
Large numbers of potential new residents have been chosen to talk over the options with Real Estate in Evanston, IL due to the redevelopment…and the new opportunities for community it offers. These young professionals have high incomes and like the chic new designs for living that the Evanston redevelopment is offering.
Yet other families in that redevelopment area are giving up their lifelong family home, in what used to be a quiet community (well it was - a long time ago), hoping and planning to move into a more peaceful and slower paced affordable part of the city. Downtown redevelopment has absorbed block after block of what was a strong middle-class African American community. RealEstateinEvanstonil.com is known for finding affordable homes in good neighborhoods.
There are many benefits to relocating to Evanston. Evanston’s schools are rated higher than the state average, the crime rate is low, and the town has a diverse population, which is steadily increasing, but Evanston still manages to keep its small town charm.
While it is unfortunate that new construction is unaffordable to some, the rapid rate at which it sells is an indicator of the strength of the real estate market in Evanston.
There are a number of new apartments and condominiums that have been built downtown to accommodate students and smaller families.
Most of the downtown redevelopment began in the 1990’s and has exploded since then. Mainstream stores and restaurants have replaced many small family businesses. While many residents have protested the large number of new homes and stores, the recent development has stimulated Evanston’s real estate economy, which was previously experiencing instability. Hopefully there will be a process established to offer assistance to relocate the Evanston families who need help to change their addresses…so there will be room for more professionals to populate downtown, profitably.
