Gentrification (from “gentry,” the petty English nobility) is the process by which the sociological character of a neighborhood changes to the benefit of a higher social class. In French, it is also known as “embourgeoisement.” Generally speaking, it results from the renovation of city centers, which increases buildings’ real estate value, and thus the cost of buying or renting these buildings.
Gentrification begins when relatively well-off people discover a neighborhood offering good value for money and decide to move there. Such neighborhoods are inevitably near to city centers, have appealing natural characteristics, and/or strong employment prospects. Generally, this phenomenon leads to a resurgence of neighborhood businesses: traditional stands, local markets with organic produce, etc.
It is must be the government’s responsibility to mitigate the effects of these processes. They can do so in several ways: by subsidizing public housing, encouraging the creation of housing cooperatives, or imposing rent control. The goal of these policies is to preserve a degree of urban social diversity.
File translated by Michael C. Behrent – Assistant Professor – Department of History – Appalachian State University – Boone, NC 28608