- Gentrification is the process of more affluent people and businesses moving into historically less affluent neighborhoods.
- Gentrification is a process by which affluent residents and businesses move into a neighborhood, changing its essential character.
- Government funds earmarked for urban renewal were commonly used to finance the wholesale gentrification of working-class or poor neighborhoods.
- The CDC (Centers for Disease Control and Prevention) defines gentrification as the “transformation of neighborhoods from a low value to high value.”
- Some of the cons of gentrification include displacement, cultural erasure and a spike in the cost of living, especially for underserved communities.
- Gentrification - an overview | ScienceDirect Topics.
- Gentrification changes the character and cultural diversity of an area, often due to the destruction of aging buildings that are cheaper to replace than renovate.
- Put simply, due to gentrification; an area becomes safer, more expensive, bustling, and more desirable. Gentrification is a controversial topic.
- However, when large companies with an upscale and specialized workforce move into an area, the result is more often gentrification.