Urban Transformation

Beyond Bourgeois Gentrification

We 've all seen those new work-live artist loft spaces in the remodeled industrial complexes next to the new galleries , cafes and office buildings that used to be factories , low-income housing tenements or warehouses . They look chic and modern while still trying to maintain their urban appeal . However , what does gentrification mean in our post-industrial urban society and how should we address its contradictory standing

According to the PBS special Flag Wars : What is Gentrification , it is the general term for the arrival of wealthier people in an

existing urban district , a related increase in rents and property values , and changes in the district 's character and culture (Grant . In this vein we can read gentrification from two perspectives . The first would be from the point of view of the newly arrived `wealthier people ' who see this process as an investment in urban renewal that brings down crime rates and increases the economic cultural capital of what was once a neglected and impoverished neighborhood

On the other hand , gentrification as seen from the perspective of the original community is thought of as another form of economic and geographic discrimination and exclusion due to the increase in rent and property values as well as the overall cost of living . The issue of urban displacement results in an unbalanced benefit for the already economically advantaged . UNESCO recently published an article concerning this contradiction : Building projects become the centre piece of the city 's economy , justified by job creation , taxes...