gen·tri·fi·ca·tion noun \ˌjen-trə-fə-ˈkā-shən\
the process of renewal and rebuilding accompanying the influx of middle-class or affluent people into areas that often displaces poorer residents((The Merriam-Webster free online dictionary))
The opening of banks such as this Chase in Flushing is a good indication of gentrification in a neighborhood
Gentrification is a word that can have both positive and negative connotations. Depending on who one asks, gentrification can mean the transformation of a neighborhood to become more affluent, increasing the value of the housing as well as the amount of business in a neighborhood and decreasing crime rates. However, by increasing property values this means that original residents may find their neighborhood no longer affordable. This is especially true for those who rent their housing. Gentrification can also accelerate because a positive feedback loop is established. Rising rents and land value further attract young professionals who want to settle down in a nice neighborhood to raise a family. This influx of new neighbors may drastically alter the neighborhood using their income and education as leverage.
Gentrification is present in each of the four Asiatowns that we focused on in this project, but its methods and effects vary from neighborhood to neighborhood. In Bay Ridge gentrification is evident in the development of luxurious businesses that are not necessary for the daily needs of immigrants. There has been an influx of young, wealthier, predominantly white people into Bay Ridge in search of cheaper living conditions. Gentrification is in its infantile stages in Sunset Park. Wealthier Asians are moving into this area and developing businesses and property for both upper and lower class Asian immigrants. Similarly, in Flushing, wealthier Koreans and Chinese are the main sources of gentrification. This change is emanating from the core of Flushing’s Asiatown as opposed to working from the outside in. Manhattan’s Chinatown is experiencing the strongest effects of gentrification. Unlike the other Chinatowns, both wealthier Asians and non-Asians are moving in and new development is targeting both of these groups. At the same time older residents and businesses are being forced to leave. This change is working in from bordering neighborhoods and affects the outer parts of Manhattan’s Chinatown more than it does the original center. Through observations and research we have explored the ways that these different neighborhoods are dealing with these alterations, and our findings are presented in the following pages.
