This is whats going on in West Tampa and many other urban communities. Whats your thoughts Gentrification is a shift in an urban community toward wealthier residents and/or businesses and increasing property values.[1] Gentrification is typically the result of investment in a community by real estate development businesses, local government, or community activists, and can often spur economic development, attract business, and lower crime rates. In addition to these potential benefits, gentrification can lead to population migration, which involves poorer residents being displaced by wealthier newcomers. In a community undergoing gentrification, the average income increases and average family size decreases. Poorer pre-gentrification residents who are unable to pay increased rents or property taxes may be driven out.[2] Often old industrial buildings are converted to residences and shops. New businesses, which can afford increased commercial rent, cater to a more affluent base of consumers—further increasing the appeal to higher income migrants and decreasing the accessibility to the poor.[3][4] Political action is often the communitys response, either to promote the gentrification or oppose economic eviction.[5] Local governments may favor gentrification because of the increased tax base associated with the new high-income residents, as well as other perceived benefits of moving poor people.
Posted on: Mon, 04 Aug 2014 15:33:34 +0000
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