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Occasionally the term gentrification is used in connection with HafenCity because the housing being built is of high quality and negative repercussions are feared. But this criticism is not valid. The phrase was coined in 1964 by Ruth Glass to describe the crowding out of households from their traditional living quarters by new groups of higher-income residents who can afford to invest in the buildings, thus increasing property values in the neighborhood. This process, to be observed in the Hamburg districts of St. Pauli, St. Georg or Schanzenviertel, is not taking place in HafenCity; as the district never boasted any housing, no established residents exist to be squeezed out of their homes. Indirect gentrification in new-build areas is not evident either. HafenCity is separated by the Speicherstadt from other inner-city residential quarters and, because they are subsidized, homes close to HafenCity are better protected against increasing rents than old buildings in other inner-city locations. Direct gentrification is not to be expected because the volume of new-builds outside HafenCity within the surrounding inner city is small. On the other hand, it is correct that a large quantity of high-quality house building is developed in HafenCity. It increases the proportion of high-value homes which is below average in the inner city and in this way upgrades the quality of social and recreational infrastructure for city-center residents surrounding HafenCity.
© HafenCity Hamburg GmbH All rights reserved Reproduction only with permission of HafenCity Hamburg GmbH Source: http://www.hafencity.com/en/faq-concepts-planning/is-hafencity-causing-gentrification-.html
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