The Park Place Economist


Gentrification is the process of physically renovating the housing and retail in a neighborhood in order to increase property values, establish high profile restaurants and shops, and attract an influx of wealthier residents. In this literature review I will explore the benefits and costs of gentrification. Section II explores research emphasizing the positive characteristics of gentrification, while Section III reviews literature discussing the negative effects of gentrifying a neighborhood. The final section summarizes the material and addresses areas for further study.