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Originally Posted by chimpskibot
About 2 weeks ago, I biked up the Delaware from Pennsport and ended at Northbank. What an interesting development, I hope the retail is some type of small market. The density is pretty laudable and it appears they have started constructing Duplexes and Triplexes toward the southern portion? I may be wrong. Also the amount of wealth in that neighborhood is surreal. I cannot wait to see the next census data for Philly. What truly surprised me was the diversity of residents and the multiple homes with multiple cars retailing over $100K.
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Yes. It is very diverse.
I have access to our HOA portal where you can see people's surnames by home. My guess is the neighborhood is about 50% Asian (Mostly Chinese, but also Vietnamese), 20% South Asian (lots of multigenerational homes...there's a group of Indian grandmothers who go out for long walks along the river every night), 15% Black, 15% White.
What I've realized by living here is that there is a certain demographic of person...I'd lump them in the "new money" bucket...that simply doesn't want to live in an old house. I guess I underestimated the power of new construction within city limits, and one of the reasons why the neighborhood has sold so quickly is because it is the only new construction project of this scale within a stone's throw of anywhere you'd want to be.
It's made me rethink about how I think about development in Philadelphia. That one strategy to make sure we continue to grow is to find places within the city (large soft sites, etc) where this can be offered. It doesn't have to be common, but there should be an option like this for those who have this preference at all times.
And yes, the cars are insane. I have an old BMW and I feel poor. BMW, Mercedes, and Teslas are table stakes. But lots of people also have Range Rovers, G Wagons, etc. There are even a few Lambos, Ferraris, and Bentleys.
My guess is average Household Income is over $200k a year. Wouldn't be surprised if it's closer to $300K a year. Also, lots of kids and we're zoned to Richmond School. That doesn't feel right. IMO we should be zoned to Hackett. The southern portion of the site which is building now is zoned to Adaire which is one of the best performing elementary schools in the city.
We've had a few meetings with our local reps (Squilla, Hohenstein, etc) and schools have come up. Hohenstein's immediate reaction when he realized how big the neighborhood was and saw how many kids there are was that the city will probably have to build a new elementary school somewhere around here to accomodate the population growth. I don't disagree with him.