Cool is in the eye of the beholder. What might seem like a hip neighbourhood to bright young things will likely resemble a slum to their parents.
Conversely, when a once rough neighbourhood starts sprouting artisan coffee shops with upcycled vintage chairs, young bankers will think they’re living on the edge, but artists will flee to the nearest run-down seaside town, where the rents are cheaper and there are still some unconverted warehouses.