9/2/2020
Positive Impact of Gentrification | Lane Lowry | Opportunity Zones & Real Estate Development
a Positive Impact of Gentri cation by Lane Lowry | Aug 13, 2020 | Opportunity Zones
Gentri cation is de ned as the remodeling and upscaling of a neighborhood by bringing in a variety of high-level businesses and residential buildings. The overall aim is to improve everyone’s quality of life, but it is a widely controversial topic on the political front. These are a few of the positive impacts that can come from a successful gentri cation project. Urban Improvements When more a uent residents reside in a town, they contribute more income tax to the treasury, allowing the local government to make changes in public infrastructure, public works, education, transportation, and law enforcement, to name a few. Making the area more desirable creates a positive cycle of wealth and interest in the town, which, in turn, attracts more residents, bringing with them increased tax revenues. Community Engagement When new groups come together, they bring with them their own life experiences and perspectives. As an area develops, more personal interest groups are formed, such as biking events or book clubs. These interest-centered activities are often family-friendly, and they provide an excellent opportunity to meet new people. https://lanelowry.us/positive-impact-of-gentrification/
1/3
9/2/2020
Positive Impact of Gentrification | Lane Lowry | Opportunity Zones & Real Estate Development
Safety The overall health of a community greatly depends on the demographic that resides there. When an area is more a uent and is made to look more aesthetically pleasing through its architecture and landscaping, there is a community-wide sense of pride and desire to maintain its appearance through recycling and anti-litter campaigns. With the added bene t of an improved police force, crime will be lower and residents will feel safer. This will attract more people to live in the area. Upcoming generations will grow up in a better environment and carry on the legacy of health and safety projects. Investment Growth Neighborhoods that gentrify see the highest levels of population increase, home equity growth, and new job opportunities. New storefronts and buildings will provide new options for retail opportunities, restaurants, and new hangout spots. Median home values will rise, which translates to better living facilities and higher-paying jobs. This will attract a more talented pool of job applicants to live in the neighborhood. In addition, instead of unregulated suburban sprawl, gentri cation seeks to build-up an already existing urban, downtown landscape and keep it contained.
Search
Recent Posts Positive Impact of Gentri cation How Opportunity Zones Bolster the Community Welcome!
Archives August 2020 July 2020 June 2020
Categories Opportunity Zones Uncategorized
Meta Site Admin https://lanelowry.us/positive-impact-of-gentrification/
2/3
9/2/2020
Positive Impact of Gentrification | Lane Lowry | Opportunity Zones & Real Estate Development
Log out Entries feed Comments feed WordPress.org
© Lane Lowry 2020
https://lanelowry.us/positive-impact-of-gentrification/
3/3