Gentrification is a process of changing the character of a neighborhood through the influx of more affluent residents and businesses.
[1] This is a common and controversial topic in politics and in
urban planning. Gentrification often increases the economic value of a neighborhood, but can force out low-income residents due to the increased cost of rent and higher cost of goods.
Gentrification often shifts a neighborhood's racial/ethnic composition and average household income by developing new, more expensive housing, businesses and improved resources.
[2] Conversations about gentrification have evolved, as many in the social-scientific community have questioned the negative connotations associated with the word
gentrification. One example is that gentrification can lead to
community displacement for lower-income families in gentrifying neighborhoods, as property values and rental costs rise; however, every neighborhood faces unique challenges, and reasons for displacement vary.
[3]
The gentrification process is typically the result of increasing attraction to an area by people with higher incomes spilling over from neighboring cities, towns, or neighborhoods. Further steps are increased investments in a community and the related infrastructure by
real estate development businesses, local government, or
community activists and resulting
economic development, increased attraction of business, and lower
crime rates. In addition to these potential benefits, gentrification can lead to
population migration and displacement. However, some view the fear of displacement, which is dominating the debate about gentrification, as hindering discussion about genuine progressive approaches to distribute the benefits of urban redevelopment strategies.
[4]
en.wikipedia.org
