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gentrification |
Also found in: Dictionary/thesaurus, Financial, Wikipedia, Hutchinson | 0.01 sec. |
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gentrification, the rehabilitation and settlement of decaying urban areas by middle- and high-income people. Beginning in the 1970s and 80s, higher-income professionals, drawn by low-cost housing and easier access to downtown business areas, renovated deteriorating buildings in many cities, reversing what had been an outmigration of upper-income families and individuals from many urban areas. This led to the rebirth of some neighborhoods and a rise in property values, but it also caused displacement problems among poorer residents, many of them elderly and unable to afford higher rents and taxes. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Much racial strife is catalogued here, alongside the requisite thumbnail sketches of playwright Tennessee Williams, who achieved a symbiotic relationship with the city; Armstrong, a native son who eventually scornfully declared, "They treat me better all over the world than they do in my own hometown"; and Ruby Bridges, whose integration into the city's schools unwittingly led to segregation via gentrification. Following a steady decline since its heyday servicing bustling trade on the Singapore river, and an unsuccessful conventional gentrification of the heritage site in the 1980s, Alsop was appointed in 2002 with a brief to rejuvenate the three-hectare diamond shaped site. A lot of neighborhoods that are experiencing gentrification at the moment haven't progressed enough to keep those gains through to the next downturn in the real estate cycle. |
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