10 Signs That Your Neighborhood Is Being Gentrified

Investments in Public Transportation There is almost an immediate call to improve the bus and rail services when a neighborhood is being gentrified. Unfortunately, what this does is attract enough new buyers at such a fast pace that it is often responsible for causing housing prices to spike. This could possibly create the type of housing market that pushes out old residents while ushering in new residents with higher incomes. Major Shift in Real Estate As previously mentioned, there is definitely going to be a shift in the housing market when gentrification is knocking at the door. Local real estate agents may be out and about more often getting ready for what will be a relatively profitable time for them. They will be tirelessly working to rebrand many of the local apartments as “luxury condos” and finding a way to rebrand the city with a new name in order to make it seem more hip and suburban. New York’s SoHo and NoLita are examples of this trend. Once the community has a new brand that’s more appealing, housing prices and monthly rents soar. Specialized Shops Start Their Takeover Shops and restaurants that used to appeal to the general public slowly start to vanish in the midst of gentrification. Specialized shops and stores with niche audiences take over, and that limited customer base means prices are bound to skyrocket. Instead of having a pizza shop on the corner where you can get an inexpensive dinner, there will be something more like a gluten-free bakery or gelato shop in its place. Real Coffee Shops Start Showing Up Many times incentives may be offered to entrepreneurs who wish to open up a coffee shop. It is generally believed that coffee shops can help reduce crime rates and that’s why local governments may work quickly to get high-end hipster coffee shops on every corner if they wish to give a certain community a major overhaul. The problem is that while coffee shops are associated with a decline in homicide rates, they also tend to boost crime rates among the Black community. One study by researchers at the University of Massachusetts found that “an increasing number of coffee shops in a neighborhood is associated with declining homicide rates for white, Hispanic and Black neighborhoods; however, an increasing number of coffee shops is associated with increasing street robberies in Black gentrifying neighborhoods.” Culture Becomes a Tourist Attraction From local festivals to ethnic parades, all of a sudden people from out of town will flock to gentrifying neighborhoods for such events. These events take place in the same areas that suburban residents would usually give anything to avoid, but once these events become some sort of fascinating sideshow, it's time to get comfortable with your new neighbors. No More Liquor Stores, Only 'Wine and Spirits Shops' “Liquor stores” will suddenly be a thing of the past. Instead, cutely renamed “wine and spirits shops” will pop up in their place. They will essentially be the same thing, but it's all part of that real estate branding. While liquor stores tend to have a negative connotation, wine and spirits shops sound warm, welcoming and inviting and appeal to a higher-class demographic. New Buildings That Look Old This is a part of that obsession with the local culture and the old world “feel” but no real urge to live in such conditions. Gentrified neighborhoods often start off with dilapidated Victorian buildings and abandoned shops that are soon remodeled to keep their old charm while still being completely gutted. As new buildings start to pop up, they are often designed in a way that they will blend in with other historic buildings nearby. Luxury Condos While the heart of the community typically still centers around vintage buildings, gentrified communities will attract a population of high-income buyers who want something more modern and lavish. Towering condo buildings will always be nearby while trying their best not to disrupt the small cluster of old world-inspired buildings that attracted the new population and boosted housing prices and the cost of living in the first place. Charter Schools As many high-income families start to take over the costly real estate and indulge in specialized shops, their presence is often close to nonexistent in the local public schools. A sort of segregation takes over the community as suburban families refuse to have their students in the same classroom as the local, urban youths. For this reason, once charter schools start popping up in or around a certain neighborhood, it’s a fair bet that local officials are preparing to get enough classrooms ready for the privileged students who will soon call the community home. Neighborhood Organizations Neighborhood organizations like community coalitions and neighborhood crime watch programs are put in place to appeal to the high-income buyers who will be rushing the neighborhood and taking over those recently renovated Victorian homes and new condos. As both Zillow and Trulia point out to potential home buyers on their websites, neighborhood watch programs have a major impact on buyer perception and help to add a boost to overall property values (and property prices) in the area.

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