gentrification

communities (such as in Cleveland) new residents have come together with original residents tosecure more resources for and better quality from their local school. We saw no evidence in ourcase studies to suggest that political pressure from new residents is significant enough to spur thearduous process of improving schools citywide, however.6. Increased Value Placed on the Neighborhood by OutsidersGentrification brings increased housing and property values and higher rents for apartments,and frequently for commercial real estate as well. Rising property values have disparate impacts onvarious stakeholders. For many, increasing property values are indisputably beneficial. Existinghomeowners gain equity, city tax revenues rise, and the community and metropolitan area may gaina more vital and vibrant neighborhood and commercial strip. Cleveland community developmentcorporation staff argue that their work is focused on increasing the market value in theneighborhood—that is how they measure their success. City observers argue that if the housinginvestment is at a reasonable scale, say a HOPE VI redevelopment project or a 35-unit new in-towndevelopment, the ripple effect of increased value extends for two or three blocks, and can attractmore new residents to the area. On the other hand, higher market values over time can hurt lowincomerenters and the community at large.Gentrification may allow previously unrecognized value in a neighborhood—quality housingstock, accessibility and proximity to downtown and/or other attractive neighborhoods—to be realized.Community leaders in Atlanta indicated that the string of neighborhoods to the east of Atlanta is nowsimply revealing the value that housing discrimination and segregationist attitudes had previouslysuppressed.Thus, the process of gentrification can be displayed graphically, as shown below.THE GENTRIFICATION PROCESSCAUSES/DRIVERS/ENABLERS PROCESS CONSEQUENCESJob Growth—CBD or regionalDisplacementHousing Market Dynamics Gentrification Increased Tax RevenuesConstrained supplyIncreased Income MixAffordabilityDeconcentration of PovertyHigh demandChanging Street FlavorPreferences for Urban LivingChanging Leadership/InstitutionsPublic Incentives—Direct andChanging Income MixIndirectIncreased Property ValuesQuality-of-Life Issues23