Gentrification refers to the process where urban neighborhoods undergo transformation due to an influx of more affluent residents. This often leads to rising property values and rents, which can displace long-time residents and change the cultural landscape of the area. While gentrification can bring investment and improvements to infrastructure, it also raises concerns about social equity and the loss of community identity.
As neighborhoods gentrify, local businesses may change, catering to new residents and potentially pushing out long-standing establishments. The debate surrounding gentrification highlights the balance between revitalization and the preservation of community character, making it a complex issue in urban planning.