I would beg the differ on your statement that cbus is a depressed market. look at german village, victorian village, OTE is blowing up, brewery district, short north, campus, downtown ect ect.

It's a neighborhood with the largest number of preserved Victorian Mansions in the country.  

@Nate WightmanWe call them "Over/Unders" here, many of them old Second Empire and Victorian houses converted into duplexes - or triplexes with on unit per floor - back in the 1920s - 1940s.As far as building new, around here it's not really cost effective at this time ...

Somersworth has some multis on "the hill" and directly on main St. that aren't so bad; converted Victorians and the like.

Lowell has some decent areas, including some BIG old Victorians.  

Turn of the century Victorians are lovely, BUT the knob&tube wiring is dangerous. 

Just about 20 to 30 minutes away from the City but extremely low density.If you think about it, most BIG Cities offer more than just a bunch of high rise apts.It's also interesting that one of those larger apts in Manhattan may be more expensive than one of these beautiful Victorian or Queen Anne homes here in Brooklyn.I'm not sure about other Cities, but NYC has just about every kind of neighborhood you want.I personally believe that there won't necessarily be a large NET migration out but there will be a demographics shift.Older people and more vulnerable people, especially with families, will want to move to a lower density neighborhood rather than higher density neighborhoods.

i came across a 100 year old condemned victorian home in one of our historic districts. 

My father grew up in Oakland, CA, and we'd go visit his mother in an old Victorian skinny, 3 story house with street-level basement.  

We found a cute old little 2-story Victorian in Roslyn, WA.