Gentrification in NYC

Gentrification in the city of New York has had its advantages for both the locals and the new groups of people that have moved into the city. However, recently, the government has entered into partnerships with big corporations to improve on gentrification. Denying that this has had its positive impacts on the New York economy would be overly wrong. However, this has also had a massive disruption on how the livelihoods of the people and the general outlook of the city. It is more profound on the multicultural and social diversity that the city prides itself on (Coster, 2011). One of the significant adverse impacts of the gentrification that is taking place in New York is slowly disappearing off the diversity that exists in the city. It is caused by the newly established high-end facilities that are getting opened in the town. Brands such as Starbucks, Amazon, and other big companies are being offered real-estate in the city to establish themselves. The problem with this is that most of the services and goods provided by these companies are very expensive and out of reach for the ordinary New Yorker (Coster, 2011). The result is that these people are being forced to find alternatives, which could mean that some may decide to move away from the city or into more impoverished neighborhoods. As such, only the rich, who move into the city due to gentrification, can live in the city. Research conducted by the University of Pittsburgh, Duke, and Colorado has shown that these rich people are mostly white people. Hence, the gradual erosion of the cultural diversity of the city. Another impact of the gentrification of the city is that the apartments and houses are becoming more expensive in the city. The influx of wealthy people is causing this into the town and improving city infrastructure. While this may seem like a good thing at a glance, it does have the impact of forcing the locals, who can no longer afford to pay the rents to move out as many such people are being rendered homeless. New York City is known for its “soul.” It has achieved through years of collection of art, both street art and formal art (Slater, 2011). New York is the definition of art in its rawest form, something that differentiates it from other cities in the country. However, with gentrification, the city is being sanitized; this means that street art is being covered out, and the street performances are getting slowly eradicated. The effect is that the city is becoming more formal and “boring.” Losing of the city’s soul is something that most locals do not appreciate, which is causing most of them to move away from the city or even choose to adapt to the new landscape of the city. In the long run, this does hurt the economy and the aesthetic value of the town as it will lose most of its tourist attraction (Slater, 2011). It is risky, especially considering that the tourism sector is a significant income earner for the local people in the city. However, the most negative impact of the gentrification process of the city has to be the social class divide that is widening. The rich are moving into the city, and the city is changing to cater to these wealthy people while the middle class and the poor are getting abandoned. A danger of this social divide is that it could lead to an increase in crime and, even worse, stoke racial divide within the city.