At our General Meeting on the 8th of April, Denison economic students Isaac Bertman, Zakia Sultana, Ashely Mei and Ha Tran gave a presentation about gentrification. They have graciously provided their materials to better our understanding of this process. You can download the PowerPoint by clicking here, or read on for a transcript of each slide.
We offer our sincerest thanks to Isaac, Zakia, Ashley, and Ha for offering their Saturday afternoon to deliver us this presentation.
Slide 1: Gentrification
- Definition: the process of renovating and improving a house or district so that it conforms to middle-income taste.
- Developers and city officials use gentrification to attract middle-income people to their areas.
- Negative association with the word.
- Usually known to be the displacement of poor communities by rich outsiders.
- Positive and Negative effects.
Slide 2: Examples
2nd Ave Deli (NYC): A local fixture that opened in 1954 in the East Village, moved in 2006. Now there’s a Chase bank there.
Slide 3: Possible Benefits
Gentrification displaces low income residents, and in the worst case scenario causes homelessness.
BUT, there are some benefits for the low-income residents that are able to stay in gentrifying neighborhoods:
- New job opportunities emerge as more stores open and construction picks up.
- Longtime homeowners benefit from rising property values.
- There's often a decline in crime.
- On average, credit scores of the poor residents improve in gentrifying neighborhoods.
Slide 4: Negative Effects
- Loss of affordable housing.
- Community resentment and conflict.
- Displacement through rent/price increases.
- Increased cost and charges to local service.
- Under occupancy and population loss to gentrified areas.
Slide 5: Anti-gentrification Movements
- Right to the City (RTTC) movement
- Homes For All (HFA) campaign
- Queens Anti-Gentrification Project
- Brooklyn Anti-gentrification Network
Slide 6: Deindustrialization in Downtown Newark
30 years ago, downtown Newark had a bustling downtown area. Stable industrial jobs meant money to attract businesses. Slowly, those jobs went away.
Slide 7: Loss of Wealth in Newark
The loss of jobs meant less money. Many businesses and people left. Gentrification is meant to bring back wealthy people and business.
Slide 8: How Gentrification Works
Rent Before: $350/month
Rent After: $800/month
Slide 9: Combating Gentrification
A lot of people want gentrification to happen.
Linkage Fees: city & developers paying for low-income housing.
Ask developers for new job opportunities for low-income residents
Awareness is most important!
Slide 10: Government-guaranteed Work Programs
Increase in productivity from education and technology will always displace a portion of the workforce, causing unemployment and then poverty. Guaranteed-work programs can help displaced workers to transit and integrate back into the workforce. Gentrification brings new job opportunities.