The Transformation of Union Square

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Once a decaying area, in the late 1980’s and early 1990’s, Union Square is now one of the most sought after neighborhoods.  According to real estate experts, lease rates have gone up from around $12 per square foot to $40 per square foot; the area’s success can be attributed to high pedestrian traffic, a combination of residents, office workers, and students, and public transportation.  Moreover, Union Square is the newest home of Nordstrom Rack, Duane Reed, Citibank, and Best Buy.

Although, every area in New York was affected by the recession, Union Square was quite resilient because of the lack of multinational corporations.  Furthermore, the 25-year renovation project, the 150,000 a day visitors, and eateries have replaced the suspicious, drug hub and transformed it into the "cool place to chill out".

Union Square is often a popular get together spot for students from New York University, Fordham University, and other nearby schools.  Students come to the area to study at Starbucks, take a walk in the park with friends, or to shop, and thus, it is safe to assume that Union Square is not simply another location to hang out, but it is a special place that unifies the community.