Gentrification

Gentrification is the process of taking lower income or older neighborhoods and building more expensive, higher class or prettier buildings in them, building condominiums, or tearing down old buildings to make the neighborhood look better, usually to make the neighborhood more attractive to wealthy people and businesses, or by their doing directly.^[1]

Often, gentrified buildings will have gray, neutral or muted colors to attract a larger number of potential buyers

Condominiums like this in this sort of area are usually a result of gentrification

Background

Gentrification means the transformation of a working-class or vacant area of the main part of a city to middle class residential or commercial area.^[2] Gentrification often increases the value of a neighborhood, but changes the demographic of the neighborhood by forcing people who already lived there to leave because of the rising prices caused by the new, higher value buildings built around them.^[3] Neighborhoods where there is a large minority population such as African-American or Latinos are common victims of gentrification.^[4][5]

Related pages

• Gentrification of Chicago