Two New Jersey suburbs of New York City are taking an interesting approach to attracting New York City Millennials looking for refuge from the high cost of rent in the Big Apple.
Prashant Gopal and Vildana Hajric report: "A literal arms race is heating up between two suburbs north of Manhattan. Ax-throwing bars are in the works at New Rochelle and Yonkers, both of which see the edgy pubs as a means to attract millennials away from New York City."
New Rochelle and Yonkers are the largest cities in Westchester County, according to the article, and located a 30-minute ride from Manhattan. Rents, however, are a fraction fot he cost in the two suburbs compared to most of New York City, so they are trying to attract newcomers by "building apartment towers outfitted with luxury amenities such as dog-washing stations and rooftop fire pits," according to the article.
The question that this approach to economic development raises, according to the article, is whether the influx will raise prices in the suburbs, and ruin the feature that attracted newcomers in the first place.
FULL STORY: New York City Suburbs Lure Millennials With Luxury Digs, Ax-Throwing Bars
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City of Albany
UCLA Lewis Center for Regional Policy Studies
Mpact (formerly Rail~Volution)
Chaddick Institute at DePaul University
City of Piedmont, CA
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research