"Gentrification"

Since the early 1960s, Toronto has undergone a series of changes in the process of gentrification. What is gentrification? Gentrification is defined as “the process of renewal and rebuilding accompanying the influx of middle-class or affluent people into deteriorating areas that often displaces poorer residents” The social-political matter has affected the urbanized space around the city, and it has led to the shifting of cultural means and society practices. The problem with gentrification has resulted in the numerous re-locations of artists, who were no longer able to afford the high rent prices.

The process of gentrification has evolved through slow development of remaking and rebuilding of the neighborhoods all around the world, not just Toronto. Wealthier people would buy real estate properties in poorer areas since the land’s property values are usually significantly lower. With the increase of wealthier people migrating into the area, taxes on the land would increase over time. These “business” people would often renovate a property that they own, and then rent it out for a much higher price than the typical cost of other homes within the area; Slowly, more and more of these higher priced houses/buildings/apartments/condos would spread in the neighborhood leading to a higher cost of living. Due to a higher rent, the poorer class of people who lived there in the first place would be driven out of the area. The community’s cultural diversity would be greatly impacted.