In the early 2000s, the city began offering developers and home buyers a tax advantage to build and buy new construction homes in Philadelphia. One of the first neighborhoods to experience a rapid gentrification was the Graduate Hospital area. Just south of Rittenhouse Square, developers acquired thousands of dilapidated homes that they renovated or rebuilt into gated townhome communities or single row homes decked out with finished basements, roof top decks and high-end interior finishes. This coincided with the increasing professionals who decided to reside in Philadelphia after graduating college and wanting more house for their dollar and Rittenhouse Square could offer. This neighborhood allowed them a short walk to work and more importantly, Rittenhouse Square. Located West of Broad Street and between South Street and Washington Avenue, Graduate Hospital continues to grow with a number of restaurants and coffee shops that have moved into the area. GHo, as it’s also called, has maintained a steady uptick in its real estate value. The neighborhood is also home to a several parks and schools for those families who have kids.