Following the burgeoning industry and trade came a steep decline of the residential neighborhood. Dated and downscale housing stock, congestion, and the worst air and noise pollution in the city made it an unattractive place to settle. The library branch was closed in 1948, the neighborhood movie theater closed in 1952, and neighborhood stores closed. Business strips along the thoroughfares expanded onto the cheap land in the struggling neighborhood. The neighborhood population was increasingly divided between elderly long-term residents and short-term renters. During the 1960s the Georgetown elementary school experienced a turnover rate among students of over 90% some years and enrollment declined to less than one third of what it had been during its peak. The school was closed in 1971. As of the 1990s only scattered remnants of the old residential neighborhood remained, housing approximately 1500 residents with a poverty rate of 25%.