11-26-2014, 10:12 AM
Gentrification is characterized by several changes.
Demographics: An increase in median income, a reduction in household size, and a decline in the proportion of racial minorities.
Real Estate Markets: Large increases in rents and home prices, increases in the number of evictions, conversion and new development of luxury housing.
Land Use: A decline in industrial uses, an increase in office or multimedia uses, the development of high-end housing, retail, and restaurants.
Culture and Character: New ideas about what is desirable and attractive, including standards (either informal or legal) for architecture, landscaping, public behavior, noise, and nuisance.
Demographics: An increase in median income, a reduction in household size, and a decline in the proportion of racial minorities.
Real Estate Markets: Large increases in rents and home prices, increases in the number of evictions, conversion and new development of luxury housing.
Land Use: A decline in industrial uses, an increase in office or multimedia uses, the development of high-end housing, retail, and restaurants.
Culture and Character: New ideas about what is desirable and attractive, including standards (either informal or legal) for architecture, landscaping, public behavior, noise, and nuisance.