Saturday, September 21 2024
What is Gentrification?
In many previous articles, I’ve used the term "Gentrification," in like every other sentence, a five-syllable word that often perplexes many of us—including initially myself. So, what is Gentrification? Gentrification is when wealthier people move into a neighborhood and usually displace existing residents of lower socio-economic status. Often, this is caused by the existing neighborhoods being redeveloped by municipalities or private agencies, consequently raising the cost of living. Many residential communities that face gentrification are also primarily populated by minorities, which, throughout their history, were subject to a lack of city maintenance–keeping the demand for housing and the cost of living down.
Gentrification in Philadelphia
Philly, especially during the peak of its urban decay, was defined by empty warehouses and worn-down abandoned industrial factories, but its economic restoration created a new problem: gentrification.
Fishtown, Northern Liberties, and West Philly all see sleek new modern condos rise where empty lots once stood. Hip cafes, craft breweries, and upscale boutiques line streets that were once dotted with shuttered storefronts. For some, these changes signal a new era of prosperity and growth for a city that has long struggled with poverty and crime. So gentrification seems pretty cool, right? Not necessarily.
The benefits of gentrification are not evenly distributed—big changes have big consequences. In areas like Kensington, the modern epicenter of the opioid crisis on the East Coast, the gentrification of its surrounding neighborhoods left it as a patchwork of renewal and despair. Additionally, gentrification literally skyrockets property values, rents, and property taxes. So, for some, the neighborhood they’ve called home for generations is not shifting its identity but its ability to house its initial residents.
It’s Not Just Philly
On the one hand, all the young professionals, artists, and investors helped breathe new life into communities that once suffered from urban decay. Philly’s proximity to New York and D.C., combined with its, relatively speaking, lower cost of living, has made it especially attractive to those who want a more affordable lifestyle without sacrificing urbanism.
"It's Complicated"
No one knows where gentrification will go in a few years, but one thing’s for sure: it's not stopping. Philadelphia is a rapidly changing city, and gentrification embodies this rapid change. So, the challenge is not always about stopping change—which can, under certain circumstances, truthfully bring benefit—but making sure gentrification does not come at the expense of those who have long called these neighborhoods home (INCLUDING CHINATOWN).
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