WORLD CITIES REGENERATION OF INNER CITIES

Reurbanisation

This is the movement of people into the city centre or inner city as part of urban regeneration. There are two main processes:

• Gentrification---This is the movement of people into older housing that was in a state of disrepair and now has been improved.
• Property Led Development---As part of large scale investment programmes aimed regenerating urban areas.

Gentrification

Process of housing improvement. Associated with a change in neighbourhood compostion in which low-income groups are displaced by more affluent people. It involves rehabiliation of older housing and streets on a individual basis. By this we mean, an affluent incomer comes to move into area and decides that they are gonna refurbish the house that they live in, over time others begin to move into the area and eventually private investors seek to move into the area. This is a example of a individual basis as no authority has seeked to encourage affluent incomers in, it has been on their own terms, it is only when the area itself begins to alter that local authorities and investors begin to take notice.

What is good about this process?

• Social Mix of area is changed
• Purchasing power is much greater (More owner-occuiped homes)
• Increase in bars, restaurants and other high-level services (Usually with middle-class incomers, businesses tend to be more quirky)
• With the extent of refurbishment taking place, this leads to greater employment.

However, is it all that good?

• Lower incomers are displaced. Landlords who refurbish their properties demand higher rent making it harder for those who are unable to compete with the higher prices. Therefore, it…