Financial Focus: Bronx Gentrification, Reverse Gentrification or Revitalization?
Thirty years ago SoHo was created. Dumbo was created 15 years ago. Is Mott Haven in the Bronx next? Was it gentrification? Was it revitalization? Many people do not seem to understand the difference. According to Wikipedia, gentrification is a process of renovating deteriorated urban neighborhoods by means of the influx of more affluent residents. This is a common and controversial topic in politics and in urban planning. Many say this is the process of renovating and improving a house or district so that it conforms to middle-class taste. Or, as summed-up by the Centers for Disease Control and Prevention