Gentrification & Displacement
Cities across the country are facing the pressure from the increasing desirability of urban living and Denver happened to be one of the fastest-gentrifying cities between 2000 and 2010 according to United States Census. That trend has not changed in this decade, as communities that were once neglected have become canvases of opportunity for real estate developers and opportunist. Raising costs of real estate have created affordability problems for families, creating unstable housing realities for their children with the fluctuation of rents and for-sale market values.
In 2016, the Denver’s Office of Economic Development published a gentrification study that focused on mitigating involuntary displacement. Northeast Park Hill was identified as a neighborhood at susceptible to gentrification and displacement due to a vulnerable population and its proximity in city. Within the defined typology, the neighborhood is at the first stage of gentrification, which will be followed by an increasing housing value, then demographic change.
It is important for PHCI to understand this dynamic so that we can continue to impact the most vulnerable families positively by advocating for affordable housing and community stability with our partners.