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Pros And Cons Of Gentrification Real Estate Developers

950 Words4 Pages

The stakeholders who are involved and/or affect by gentrification Real Estate Developers
Residents
Bronx Borough President Ruben Diaz Jr.
Policy Maker
Landlords
Investors
Is gentrification a good day or bad thing?
Well, it depends on who you are asking. The real estate developers, investors, and landlords see gentrification as a something positive with increasing profit and value of properties in the area.
While the longtime resident's half see it as something that can be good with the old rundown houses being fixed up, reduction in crime, increasing property value and new shops popping up, they also fear the worse. From the policymaker's perspective gentrification also has several positives. It can reduce vacancies as those abandoned and rundown homes get bought and fixed up, declining neighborhoods become stabilized and diverse and all with no government involvement.
While gentrification is neither all negative nor all positive, the negatives for the most vulnerable are those with the worst fear, the fear of being pushed out of their homes, the residents. The borough president who is currently up for election in the fall has made some Bronxites feel that he has …show more content…

Diaz does state that gentrification is bad his borough does not feel that he is representing the residents in the matter. Fast forward to 2017 Ruben Diaz Jr. has served as Bronx borough president since 2009 and is up for reelection in the fall. He has spoken with City & State on the biggest projects that are currently in the works. And delivering for Bronxites. Mr. Diaz was asked a question during the Q&A session of how concerned is he that the influx of development projects in the Bronx will lead to gentrification and displacement of Bronx natives? He stated that he has watched and learned what other boroughs have done during their gentrification and has seen what not to do. "Gentrification does not have to mean that a good thing is happening here just for other

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