Uncategorized | 12:38 pm | March 6, 2011 | By Sharon Yin

Wall Street Journal explains revival of New Haven’s downtown

The Wall Street Journal has discovered New Haven. The Journal reported this week that New Haven has changed for the better since the 1990s because of Yale.

According to the article, people who moved to the suburbs in the 1950s are coming back to New Haven:

In the 1950s, residents left New Haven in droves, settling in nearby towns like Woodbridge and Branford. Department stores like Shartenberg’s and Macy’s, which had anchored the central business district, closed up shop and crime rates shot up.

The area morphed into two downtowns: One for Yale students sticking close to campus and the other that featured pornography outlets and pawn shops.

The article explains that Yale first bought downtown properties in the late 1990s and is now the New Haven’s fifth-largest taxpayer.

“Yale is to New Haven as Disney World is to Orlando,” Christopher Nicotra, managing member and president of Olympia Properties, told the Journal.

We think that means Old Campus is totally Fantasyland.

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