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The art of gentrification in Greenpoint, Brooklyn - Research Paper Example

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Oftentimes it is relatively easy to find the money to redevelop a specific area; however, attracting the talent that gives the area its competitive edge is quite…
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The art of gentrification in Greenpoint, Brooklyn
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The art of gentrification in Greenpoint, Brooklyn

Download file to see previous pages... es face with seeking to attract these individuals to help to differentiate and advance their particular region is the fact that most gentrification projects have the direct effect of causing a large increase in the price of rent and other commodities. As such, these factors are not encouragements for the aforementioned young people and artists to move into the region an dattempt to take up residence and find a job nearby. Instead, they are a net discouragement. Accordingly, this brief paper will discuss some key ways in which a community/municipality can seek to engage these key partners as well as provide some key economic programs which will at least partially defray the high economic costs that might be keeping them from the given region in the first place
As a function of any and every economic development project, the end result is that the value of the property in and around a successful economic development will become more expensive. As opposed to when the project starts, it is not uncommon for rent to increase by a factor of 2 or even 3 times the original amount. As such, for the project in question, it is no surprise that the rent has increased exponentially for the tenants of the original economic revitalization target. However, it is still in the best interests of the city/jurisdiction to ensure that although the direct economic benefit of the gentrification may be begun to be felt by way of tax returns and property appraisal, the project itself is only partially complete due to the fact that the key talent and human resources which could help to propel the project to the next level are still notably absent. As such, one key way of attracting these individuals would be to engage them with a type of Kickstarter program. A Kickstarter program basically boils down to a type of economic aid or rent control by which targeted individuals such as the ones which have been previously listed will be directly encouraged and economically sponsored (at ...Download file to see next pagesRead More
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