Manayunk retained its small-town charm with its small two- and three-story row homes, cobblestone paving, and hilly streets. Many who visited decided to stay and renovate the small row homes characteristic of the area. Increasing demand for housing in the area has led to the conversion of former mills into loft apartments, and replacement of empty storefronts and mom-and-pop stores with upscale shops. In 2004, a new condominium tower was built on part of Venice Island. In 2005 there were plans to build more condominium towers to replace the closed soap and paper factories. Manayunk has become a popular place of residence for local college students and young professionals. Main Street is most known for its many bars and restaurants.