GEOG 3205 Lecture Notes - Lecture 10: Cultural Capital, Community Building, Rent Regulation
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Gentrification+ + + (10/30)+
- What+is+Gentrification?+
o “The+transformation+of+a+working-class+or+vacant+area+of+the+central+city+into+
middle-class+residential+or+commercial+use”+(Lees,+Slater,+and+Wyly,+2008,+xv)+
o “A+generalized+middle-class+restructuring+of+place,+encompassing+the+entire+
transformation+from+low-status+neighborhoods+to+upper-middle-class+
playgrounds”+(Shaw,+2008,+p.+1698)+
o Actors+
§ Local+government+
• Funding,+code+improvements,+historic+neighborhoods,+zoning,+etc.+
§ Financial+&+property+agencies+
• Landlords+&+real+estate+agents+who+guide+potential+owners+into+
particular+neighborhoods+
§ Property+owners+&+renters+
+
- Stage+Model+of+Gentrification+
o Marginal+Stage+
§ Cultural+capital,+but+little+economic+capital+
§ Little+to+no+displacement+
o Early+Stage+
§ Cultural+professionals+buy+&+renovate+homes+for+personal+reasons+(not+
profit)+
o Discovery+Stage+
§ More+affluent+households,+developers+&+property+investors+discover+&+
invest+in+neighborhoods+
o Gentrification+Stage+
§ Renovated+homes+returned+to+market+at+greatly+increased+price+for+the+
most+affluent+buyers+&+renters+
§ Established+&+early+stage+residents+displaced+
+
- Why+&+How+Gentrification+Works+
o Production+explanations+–+the+first+thing+that+occurs+is+the+production+of+a+
favorable+environment+
§ Rent+Gap+(Smith)+
• “A+gap+between+the+ground+rent+actually+capitalized+with+a+given+
land+use+at+a+specific+location+&+the+ground+rent+that+could+
potentially+be+appropriated+under+a+higher+&+better+land+use+at+
that+location”+(Smith+&+LeFaivre,+1984)+
• When+a+significant+enough+rent+gap+exists,+gentrification+will+
ensue+
o Consumption+explanations+
§ Consumer+new+class+(Ley)+