Gentrification

Gentrification is the process of changing how a neighborhood looks like by building better buildings, condominiums or tearing down old buildings to make it look better so that wealthier people and businesses can come live in this neighborhood.
Background.
Gentrification means the transformation of a working-class or vacant area of the main part of a city to middle class residential or commercial area. Gentrification often increases the economic value of a neighborhood, but changes the demographic of that neighborhood often causing people who lived in this neighborhood for a long time to leave because of rising prices. Gentrification mainly happens in neighborhoods where there is a large minority population such as African-American or Latinos.