Gentrification and urban redevelopment involves the

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Gentrification and Urban Redevelopment-Involves the inflow of capital investment into the real estate of an already existing placein a metropolitan region whose values are depressed.-Both gentrification and urban redevelopment are cycles of capital investment in urbanreal estate.-Gentrification (US and parts of Europe) is usually characterized by theconvergence of apartments into condominiums (studios) and the renovation ofselect homes in a specific area.-Rent rises as landlords realize they can attract professionals and business people astenants (+$$)-Waterside developments → the central agency of change in the real estate marketinginterest-Appears to be a consistent feature of contemporary gentrification in most cities-Some houses may be cut up into separate rooms or apartments to increase the rentalrevenue.-London:-The predominance of owner-occupation has seen the professional classes...whichconvert into apartments and studios.-Large tenure changes, from low-income private rental to higher-income owneroccupation, have been a consistent feature of gentrification over the last 30 years.-Olympics, commonwealth games, the european city of culture, city marketing and thelocation of culture centers has led to a rise in gentrification in the last 10 years.-The housing market tends to sort the population by income into different areas.-Racism may add another type of sorting.-London has not suffered the level of ghettoization experienced in the other cities.
-The level of interracial marriage is high and there is a complex social and culturalgeography.-The failure to continually upgrade and replace the worn-out building site with inflows ofnew cash amounts to a process of is investment -a shrinkage of capital- in an area.-Leads to further deterioration of the housing stock and the communityenvironment-Declining area → the availability of cheap housing and novel aspects, such as interestingarchitecture-The less affluent resident are pushed out of the area when new construction andrehabilitation is profitable.-The process of displacement that often accompanies gentrification may result in politicalstruggles as older resident resist the incursion of new capital.-This results in cycles of decline and gentrification that afflict the housing stock ofthe city.-Too many of the academic commentators on gentrification take it as read thatgentrification is a parameter and not a variable in urban redevelopment.-Regeneration in itself improves urban habitats as a whole rather than creating differentforms on tensions and conflicts between groups and individuals within them.Is Gentrification a Dirty Word?-gentrification was increasingly understood as a threat to people’s rents, housing andcommunities, and the Mobil Corporation no longer had an exclusive claim to thepurchased ideological ink of the Times’ Opinion Page.

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