gentrification

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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.

Gentrification

English term for the process by which young professionals (gentry) buy into inner-city areas as part of a neighborhood preservation trend.

gentrification

the renovation and upgrading of buildings, either by programmes of planned urban regeneration or as a result of purchasing decisions made by higher-earning, white-collar, professional and managerial individuals intent on modernizing cheap, dilapidated property in previously unfashionable urban areas. Whether gentrification is planned or unplanned, the poorer sections of the community are often displaced or their needs discounted. The process is also sometimes known as urban recycling.

gentrification

The upgrading of urban property in a deteriorated area, usually resulting in the dispersal of the current residents and their replacement by a more affluent population.
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Living in a neighborhood that gentrified between 2000 and 2007 is associated with about an 8 point higher increase in credit score compared to living in a low-price neighborhood that did not gentrify.
Tyler (Victor Browne) has reopened a tour-guide operation, a developer wants to gentrify the environs into yuppie domiciles and, of course, the government - personified by W.
Importantly, with Chelsea rents increasing, and neighborhoods east of SoHo continuing to gentrify, you can expect to see more and more galleries moving to the area," added John Bred, principal of PBS Real Estate.
Some areas close to the urban core are already starting to gentrify.