The Providencia Avenue area became an important commercial hub in the eastern sector. This development was extended to Barrio Alto, which became an attractive location for the construction of high-rise buildings. Major companies and financial corporations were established in the area, which gave rise to a thriving modern business center known as ''Sanhattan''. The departure of these companies to Barrio Alto and the construction of shopping centers all around the city created a crisis in the city center. To reinvent the area, the main shopping streets were turned into pedestrian walkways, such as the Paseo Ahumada, and the government instituted tax benefits for the construction of residential buildings, which attracted young adults.