Statement of issue
The intent of this policy brief is to argue for gentrification in the City of New York. Gentrification in New York City has been a major role-player in the city's economic wealth because at its core, it is an urban "renewal" process. It allows the city to thrive economically, which in turn allows for investment in other aspects of the city such as schools and transportation. However, the rise of gentrification has an impact on every resident, whether it be good or bad. Gentrification is most commonly associated with displacing lower to middle class workers and residents. This does not outweigh the benefits of gentrification, which can increase the popularity and affluence of New York City neighborhoods. The recommended course of action is to make inclusionary zoning mandatory via executive power, but give certain tax breaks to developers so that gentrification can be embraced in the city of New York.
Importance of the problem The current issue is that many residents of New York City argue against gentrification due to the possibility of being displaced because of living costs, however, it is a much smaller issue than previously known. In “Displacement or Succession?” by Lance Freeman, surprising data showed that only 1.3% of the population in New York was actually displaced due to gentrification …show more content…
However, with the evidence provided that only 1.3% of disadvantaged households displace due to rising rent costs, it can be safely said that the current policy of optional inclusionary zoning should be modified to benefit not only the developers looking to build residential structures, but those opposed to gentrification due to fear of being pushed out. The policy should be modified so that gentrification is accepted, as well as help those who need economic support to stay in the
Importance of the problem The current issue is that many residents of New York City argue against gentrification due to the possibility of being displaced because of living costs, however, it is a much smaller issue than previously known. In “Displacement or Succession?” by Lance Freeman, surprising data showed that only 1.3% of the population in New York was actually displaced due to gentrification …show more content…
However, with the evidence provided that only 1.3% of disadvantaged households displace due to rising rent costs, it can be safely said that the current policy of optional inclusionary zoning should be modified to benefit not only the developers looking to build residential structures, but those opposed to gentrification due to fear of being pushed out. The policy should be modified so that gentrification is accepted, as well as help those who need economic support to stay in the