Lincoln Park: The Role Of Gentrification In Inner City

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Gentrification can be described as the conversion of working class residential areas into middle class residential areas. The process of gentrification tends to take place in inner-city neighborhoods that are located close to central business districts. The concept of gentrification began in the 1960s with the movement of private-market investment capital into downtown business districts of major urban centers or inner-cities. During the 1970s, there was a decline in the housing in inner cities, which caused the push to rehab the deteriorating housing near the central business districts. Some of the rehabilitation of the deteriorating housing was publicly subsidized, but the majority was financed by the private market. The business world viewed…show more content…
The demolition of the housing in Lincoln Park was referred to as the “Major Urban Renewal Project” (Bennett, 2005). From the 1950s to present day Lincoln Park is constantly undergoing gentrification. Lincoln Park and Lake View both experienced a rapid increase in gentrification activates in the 1990s and the early 2000s. Lincoln Park was once seen as a neighborhood of immigrants where working class Americans raised their families. Now Lincoln Park is seen as a fancy neighborhood with new restaurants, trendy stores, and young professional. Gentrification has caused the demographics of Lincoln Park to shift from African American and Mexican American to white. This is because gentrification forced the African American and Mexican American families out of the neighborhood by increasing rent and tearing down affordable…show more content…
(2005). Gentrification. Retrieved April 18, 2017, from https://encyclopedia.chicagohistory.org/pages/511.html DeBaise, C. (1998, January 20). It 's hard to tell today, but Lincoln Park once was an... Retrieved April 18, 2017, from http://articles.chicagotribune.com/1998-01- 20/news/9901070103_1_neighborhood-lincoln-park-zoo-coffeehouses/2 Edson, A. (2001) Gentrification. Race, Poverty & the Environment, 8(1), pp. 30. LaTrace, A. (2015, November 05). Small Businesses Are Struggling to Stay Afloat in Wicker Park. Retrieved April 18, 2017, from http://chicago.curbed.com/2015/11/5/9903582/wicker-park-retail-turnover Zukin, S. (1987) Gentrification: Culture and Capital in Urban Core. Annual Review Sociology 13(1), pp.

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