2. Chelsea is one of the neighborhoods
with the highest income inequality
in New York – the average income is
$140,000 compared to the housing
projects average income of about
$30,000.
Federally subsidized tenants, who
are required to not spend more than
30% of their income on rent, fear
displacement – fewer and fewer
options to stay in community they
grew up in
3. Make rundown areas of town safer and more inviting
Small parks are now a place to go for a jog or have a picnic, rather than deal drugs
Create more business opportunities both for entrepreneurs and well-established
companies
Better schools
A trend to affluence
Local artists have a new clientele
Poorer artists able sell their work to the upper-middle class moving in
Historical buildings are renovated/repaired after being neglected
“It’s brighter, it’s beautiful, it’s more inviting than it used to be”
4. Income inequality – housing projects with fixed rent for lower income families vs.
upscale apartments across the street
Higher cost of living that forces the poorer end of the spectrum out of their
neighborhoods
Alienation of the poor – lost sense of community and belonging as business offices
take over bodegas
“multimillion dollar condos, tech companies, and fancy restaurants replace mom-and-pop
stores.”
Trading supermarkets for Apple Stores
Culture that’s been in the neighborhood for generations has started to disappear
Rent prices keep rising, forcing out even the “former newcomers once viewed as
gentrifiers” - $2,700/month for 319 sq. ft.
5. Is the value added from gentrification worth it?
Do business owners and landlords have a responsibility to the lower
income families or families that have lived in the community for
generations?
Does it really solve anything – does the problem just move to
another part of town?
Do better schools help the lower class still living in the area
enough?
Should there be laws to regulate how far housing prices can go?