The White Problem in Planning
RE VI E W | CAP I TAL C ITY: Gentrification and the Real Estate State
AUTHOR/ SAMUEL STEIN Review by W. Pierce Holloway
Gentrification, a phrase uttered at the same frequency as “Instagram” or “climate change”, has become a phenomenon deeply intertwined with cities across the world. Its touch on a neighborhood is easily identifiable, with speedily built mixed use condos replacing working class apartments at an alarming rate. While pockets of individuals welcome the new housing and amenities it brings, deep-rooted residents face exponentially rising property taxes and rents, placing their one-time home beyond financial reach. The momentum behind increasing development in the United States is born from social, political, economic, and cultural pressures. These forces have culminated in real estate representing 60 percent of global assets and a real estate mogul becoming U.S. president. In Capital City, Stein explores in straightforward terms the various pushes and pulls of real estate development that have shaped our modern urban fabric. Capital City investigates not only the influences and desires of the wealthy, but how city planners facilitate development in order to increase property tax revenues. Stein explains how often the blame of gentrification is laid on the shoulders of private developers and yet, city planners and other municipal forces frequently enable, if not accelerate, gentrification. Here, Stein draws a false conclusion that city planners understand real estate and larger financial implications. Frequently, planners make their decisions outside of the realm of real estate finance and are more concerned with adhering to zoning codes and public complaints.
Verso, 2019. 199 pages.
92
The first half of Capital City presents a broad overview of what is gentrification, its fingerprint on cities, and its wake of displacement. Stein presents several case studies of neighborhood gentrification, many of which unfold in a common pattern. First, a building offering affordable or working-class housing falls into slight disrepair. Next, the building is deemed blighted and presented as an opportunity for community revitalization. Typically, the redevelopment is fought by residents, heavily incentivized by politicians, and finally enabled by zoning boards. This process culminates with developers reaping exorbitant profits, while the social capital of the community members is fractured. This destructive finale of gentrification is prominently on display when Stein dedicates a chapter of the book to the real estate-centered family history of Donald J. Trump. The chapter chronicles the Trump family’s pattern of leveraging political motivations for community revitalization and housing needs to maximize profits while minimizing public good.
