Dictionary

gentrification
ˌdʒentrəfəˈkeɪʃən, ˌdʒentrɪfəˈkeɪʃən
Part of Speech
noun
Definition
a gradual process in which an area in bad condition where poor people live is changed by people with more money coming to live there and improving it

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Wikipedia

Gentrification is a trend in urban neighborhoods, which results in increased property values and the displacing of lower-income families and small businesses. This is a common and controversial topic in urban planning. It refers to shifts in an urban community lifestyle and an increasing share of wealthier residents and/or businesses and increasing property values. Gentrification may be viewed as "correction" of blockbusting and urban flight as many gentrified neighborhoods of the present were once affluent neighborhoods of the past.

Gentrification is typically the result of increased interest in a certain environment. Early "gentrifiers" may belong to low income artists or boheme communities, which increase the attractiveness and flair of a certain quarter. Further steps are increased investments in a community and the related infrastructure by real estate development businesses, local government, or community activists and resulting economic development, increased attraction...


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