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Gentrification Lite

Posted by: Chris Steins

12 December 2005 - 7:00am

The rich and poor live side by side as city planners and elected officials redevelop Raleigh's toughest 'hoods.

the city of Raleigh is buying blighted properties - sometimes by eminent domain - and turning some of its toughest blocks into places where the rich and the poor rake leaves side by side. These tidy, mixed-income neighborhoods are what some call "gentrification lite." And visionaries like Mr. DeBellis are lining up at the door, one developer says.

...As the downtown housing market heats up, this city of bankers and bureaucrats is at a crossroads, pondering this question: How can social policy curb economic forces so that gentrification does not run roughshod over long-ignored corners and cul-de-sacs?

...To encourage homeowners to make improvements, the city is also offering 'forgivable' home improvement loans of up to $45,000 -- as long as they stay in the house for at least 15 years."

Full Story: In one Southern city, a twist on gentrification
Source: The Christian Science Monitor, December 11, 2005
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“
The decision to abandon a property is a symptom of the loss of confidence. And while abandonment certainly affects confidence among surrounding homeowners, the most important question to answer is not "how do we deal with abandoned properties?" but "what is the most cost-effective way to restore market confidence, and how do abandoned properties fit into that picture?"
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