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Positive Impact of Gentrification | Lane Lowry | Opportunity Zones & Real Estate Development
a Positive Impact of Gentri cation by Lane Lowry | Aug 13, 2020 | Opportunity Zones
Gentri cation is de ned as the remodeling and upscaling of a neighborhood by bringing in a variety of high-level businesses and residential buildings. The overall aim is to improve everyone’s quality of life, but it is a widely controversial topic on the political front. These are a few of the positive impacts that can come from a successful gentri cation project. Urban Improvements When more a uent residents reside in a town, they contribute more income tax to the treasury, allowing the local government to make changes in public infrastructure, public works, education, transportation, and law enforcement, to name a few. Making the area more desirable creates a positive cycle of wealth and interest in the town, which, in turn, attracts more residents, bringing with them increased tax revenues. Community Engagement When new groups come together, they bring with them their own life experiences and perspectives. As an area develops, more personal interest groups are formed, such as biking events or book clubs. These interest-centered activities are often family-friendly, and they provide an excellent opportunity to meet new people. https://lanelowry.us/positive-impact-of-gentrification/
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