And so what is wrong with gentrification?
Gentrification is defined as is a process of renovation and revival of deteriorated urban neighborhoods by means of influx of more affluent residents, which results in increased property values and the displacing of lower-income families and small businesses.
Many would say that gentrification is a villain. We have seen massive gentrification in cities across the globe. The anger against gentrification has blocked growth that was in the process of making many of these neighborhoods better places to live. The phobia around this is evident from protests at local community boards and pushing back of any type of development. I get it but there has to be a smarter way.
In the end, history has shown that gentrification always wins. What can we do to insure that as neighborhoods change and increase the value of land to make sure that many of the people living there can continue to remain while enjoying the valuable changes such as better schools and stores. This is not a simple issue. I am seeing communities push back so hard against gentrification that the land will soon lose value as people won’t want to buy there because of the backlash of being unable to upgrade a neighborhood. The long run is that those rabble rousers are destroying their neighborhoods and turning them backward.
I’d love to see local government figure out how to embrace gentrification with laws that come with it. Creating spaces for the community and making sure that there are a percentage of middle income or low incoming housing to remain and perhaps be subsidized for a period of time. There just has to be a better way. The gentrification that has happened as we have seen the urbanization of many cities has pushed out people who can no longer afford to live there. That has created anger and frustration on both sides of the fence. I’d like to see a community who has figured this one out.