Effects of Gentrification in Kensington Market.docx -...

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Running head: EFFECTS OF GENTRIFICATION IN KENSINGTON MARKET1Effects of Gentrification in Kensington MarketName of StudentStudent NumberGEO 793Section 21Professor Raymond GarrisonDate
EFFECTS OF GENTRIFICATION IN KENSINGTON MARKET2Effects of Gentrification in Kensington MarketGentrification is a process of restructuring urban buildings and neighborhoods so that it could meet middle or upper-class standards for economic success. Gentrification is a sensitive issue in Kensington Market, Toronto. It has become a common concern in the area because most buildings are being restructured to the modern designs thus destroying the city'scultural structures. Kensington Market is a unique area in Toronto with the highest populationof immigrants that fosters multiculturalism. Various developers and investors are entering their economic market and facilitating gentrification, and people in the neighborhood do not seem to agree with this movement. This paper will discuss residential gentrification in Kensington Market, how it has affected the residents, and ways which people have reacted to this new economic movement.Gentrification has not been received very well in Kensington market, most of the residents do not agree with the changes it has made to the society. Initially, Kensington Market was an area filled with vintage building's especially shops. These buildings were constructed in the Victorian architecture designs with bright colored paintings and wall art paintings in various public places that define the features of Kensington Market ('Culture trip'2016). Their architecture is multicultural with a blend of Victorian designs and 'hippie' designs of multiple colors.
EFFECTS OF GENTRIFICATION IN KENSINGTON MARKET3According to Culture trip (2016), gentrification was facilitated by the rise immigrationinto the area which pushed workers to build small houses along the streets thus making the city a middle-class neighborhood. Since the 1900s, Kensington Market has undergone multiple changes that have not been sitting well with the residents. Gentrification has attracted many investors into Kensington Market which has led to high standards of living and unaffordable housing. The restructuring of urban spaces is causing a lot of commotion in the area especially for residents who are used to the ancient structures. Gentrification affects the residents both culturally and economically; the culture of Kensington Market is based on ancient architecture, and the housing was cheap for residents before. According to Lytvynenko (2016), the cost of land has increased, and landlords have increased rental prices for tenants. This is a huge change for long-term tenants who are used

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Term
Winter
Professor
DR. Onyango
Tags
Management, Affordable housing, kensington market, Al Waxman, King of Kensington

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