Academic Master

Business and Finance

the modern urban development and housing

The subject of gentrification is inescapable in the modern urban development and housing. It is a term that sheds more heat than light due to some of its negative notions and lack of any agreed implications. Does the term refer specifically to residential demographics? Must the idea have a racial connotation? Does the term mean new development or new housing? Moreover, does it mean displacement? This comprehensive review will shed much-needed light on this matter.

Different researchers around the world have reviewed studies of gentrification and displacement over the past few decades. This will help us better understand whether it is necessary to vote yes or no on the issue of gentrification. Just how extensive are the implications? What number of people might be affected, and how do they fair after gentrification?

Now that we have a general overview of the term gentrification and some of its implications, I am going to indulge in the main argument surrounding it. This will include the positive aspect that compels me to vote yes as well as the disadvantageous aspects I found related to the idea. At the surface level, I understand that the region is repaid and re-occupied when an area has been gentrified. This is accomplished through dedication, hard work, and resilience. Moreover, it is a process that takes years to provide any positive results that become clear to people. Moreover, it even takes much longer for the area to be considered a success.

Some of the disadvantageous aspects I have noticed about gentrification is that it is a clear sign of scarcity if quality urbanism. The driving force behind the idea is a far larger spiky reorganization, often propelled by both public and private investment in various sectors such as schools, research institutions, and redevelopment of a housing.

Safer Neighborhoods

This is one of the positive aspects that makes me feel that I should vote “yes.” There is an idea that separates an industrial city into different zones. The economic heart of the financial district is at the center of the zones. It is a point where the entire area functions. In turn, the centralization of activities would help the greater metropolitan area become much safer and attract people to housing and other different activities and amenities. This would improve the local economy and stabilize the city.

Preservation of Local History

Another observable aspect is the preservation of local history. I feel that for an area to begin gentrification, it must be declared a historic neighborhood. In that way, regulations would be put in place to prevent another wave of urban decay by monitoring things such as garbage, noise pollution, and even curfews. This would allow the residents to reclaim dilapidated neighborhoods and ensure that all regions and residents will be cared for and offered necessary security in what might be perceived as a potentially dangerous area.

Creativity Takes Center Stage

Since the area will be undergoing gentrification, I believe it will attract the creative class that understands and appreciates the new diversity. This would bring artists, teachers, performers, and other creative thinkers all working in one place, creating a strong cultural front in a world where art has constantly been cut from school.

However, the new development has a couple of disadvantageous aspects. First, I believe that the value of the neighborhood would rise to a point where the original residents won’t be able to afford the new lifestyle. Landlords would increase rent, which most of the initial residents won’t afford. Social amenities will be expensive; Grocery stores will begin selling foods at higher prices. Therefore, poor people can’t afford it and are forced to buy at shifty corners. The stores that originally served the original residents will be bought, which implies that local people will be pulled out of jobs, and therefore, the new changes won’t be relevant for those living there. Eventually, the original residents will be compelled to move into many dilapidated neighborhoods with many world social amenities. This implies that the change won’t be any better for the original residents. In fact, the problem of ghettos and slums will arise in the long run.

It is important to mention that the idea of gentrification is not always bad. It will bring in new ventures where more people can work, safety better schools, etc. The neighborhood isn’t expensive yet. However, as gentrification continues, more upper-middle-class people move in, and businesses change to accommodate them. Everyone else simply can’t afford to live there anymore, and they leave. Earlier in the cycle of the new development, things are always good. Usually, performers, artists, and other professionals later move to crime-ridden areas. Moreover, these areas tend to have a lot of gang activities and drug problems. New residents will move in, making the area much safer, and investments will sprout from the surroundings. Maybe new music spaces will be opened. This is all positive but will be sustainable if the area remains affordable.

After a while, the developers will realize the negative implications of the new demographic. The new demand implies an increased cost of investment and more expensive housing options. This is one key adverse issue of gratification. Middle-class folks will pour in, limiting options for the poor. Moreover, the squatters will also be greatly affected. Over time, the demand for luxury housing will increase. Therefore, the lower-end household is bought, and the prices are raised by the new owners. Therefore, the poor will automatically be priced out and often required to seek new neighborhoods to live in, which is sad.

With the exit of the lower class, performers, and musicians, all the strong cultural beacons will be gone. The rich start moving out after realizing that the new neighborhood is not cool anymore. This, in turn, would send new housing to the market, as no one wants to live in uncool areas. As a result, prices would drop, and neighborhood fall apart, paving the way for crime, and the cycle would happen again. In some cases, the cycle often continues for over a decade. Sometimes, it would last longer. I have experienced this going back and forth in the old city.

Whatever the case, this is not a new thing. Therefore people should not be surprised since this is a common thing and thus should be expected. We have experienced many people being priced out of their respective neighbourhoods. Therefore this should not upset people. As a lower class voter, I believe I have a place in the new cycle and I will ensure I contribute positively to my new neighborhood.

Here is the important thing other voters need to understand. Poor people who show few signs of becoming less poor will still experience the impact of concentrated wealth and economic power of the newly developed neighbourhood. As indicated earlier, poor people will experience increased rates of eviction and involuntary displacement. As a result, they will be forced to move for other different reasons and one of the most common reasons is an increase in rent. This is something they see happen in other social circles.

While this is not an exhaustive subject, by all means, I believe I have provided the most fundamental points to vote for gentrification. It is a subject that everyone should feel free to provide their opinion based on individual experience. However, the truth is that the poor are displaced and getting pushed out of their original neighborhood to the most vulnerable neighborhood. Therefore, they remain in abject poverty even after the new development. Therefore, even though I will vote yes, the most important task ahead is the creation of a more inclusive neighborhood that meets the needs of all people.



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