Gentrification UP234
Gentrification is the process of changing the character of a neighborhood through the influx of more affluent residents and businesses.
Gentrification often increases the economic value of a neighborhood, but the resulting demographic displacement may itself become a major social issue. Gentrification often shifts a neighborhood's racial/ethnic composition and average household income by developing new, more expensive housing and businesses in a gentrified architectural style and improving resources.
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, the 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.