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Long Term Effects Of Gentrification

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Gentrification brings positive long term effects to communities and cities nationwide. Direct results of gentrification for both the residents and the city are the economical growth, local job opportunities created and a higher tax base available.
(Stacey Sutton, Urbanly planning Scholar, defined gentrification as): Gentrification is the process of higher status people renovating lower class urban neighborhoods to satisfy middle-higher class standards (Sutton, 2015). In the process of gentrification throughout the United States, it is positively impacting the economy in more ways than one. One benefit of gentrification is the economical growth residents benefit from. Communities have access to more resources. The resources can then help in …show more content…

Taxes created by gentrification are from the influxe in jobs, higher property values and the tourism. These taxes can go towards improving the cities. Things such as new roads or road repairs, neighborhood maintenance and security and more schools for the nearby communities.Tourism brings revenue to a community and as retail stores and restaurants open communities are seeing the direct benefit. When a building renovation takes place, the property value increases, thus, property tax increases. The taxes created by gentrification can then go towards paying for things such as new roads and/or road repairs, neighborhood maintenance and more schools in the nearby …show more content…

People of the higher socioeconomic status believe they are helping improve the quality of life for lower class residents however that does not always seem to be accurate. Gentrification does have positive effects however researchers believe the negatives outweigh the positives.
One argument against gentrification is the possibility it causes displacement. As the housing market is increasing drastically, residents who are not able to afford their new living costs are forced to move from the neighborhoods. Displacement does not apply to every household, displacement is typically seen among renters, as opposed to homeowners. Renters then have no choice, if they cannot afford the new living costs of their home they need to relocate. Denver’s Office of Economic Development partners with both private and public organizations in order to help maintain affordable housing available for lower and moderate income families, low income elderly, and special needs to reduce displacement in communities(City of Denver,

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