
By Thelá Thatch, Black Enterprise — Gentrification involves the transformation of under-invested, predominately poor communities from low value to high value. During this transformation, long-time residents and businesses are displaced; unable to afford higher rents, mortgages, and property taxes. For some, gentrification is a process of renovating deteriorated urban neighborhoods through the influx of more affluent residents. To others, gentrification magnifies the racial divide as it shifts a neighborhood’s racial…