What (new) businesses "spur" gentrification?

[UserNameToronto]

Where to?

About 20 buildings further west, across from Moss Park.

The store design is much more tasteful, with a narrower frontage--the street presence is greatly diminished.

To the previous poster--what is money's relationship to gentrification? Chicken or egg?

 

[Eug]

^disagree. In the east end of Toronto at least, the neighbourhoods were primarily working-class folks with relatively low incomes. It had been that way since much of the housing stock was built roughly 90 years ago. While inter-generational residents are still around, they are disappearing. Many of them live there until they move into a retirement home and then they sell to someone who is going to renovate, either young professional types or contractors. That just happened to my neighbour two doors down and it will likely happen to my next door neighbour too. The houses are worth so much more, even on a relative basis, than they were before that no one in the family can afford to buy them.

Many homes in my area were built in the 50s, but the description you have provided is nonetheless relatively accurate. I live in one of the nicer area of the east end, and interestingly, some of the original bungalows (which by the way have 2-conductor electrical outlets but do not have knob-and-tube wiring) still have the original owners living in them.

It's a morbid death watch... Contractors are watching the nicer lots like hawks. As soon as one of these owners dies, the contractors descend to try to scoop it up to renovate for a flip. Or else a younger more professional couple comes in and scoops it up, and renovates it too, albeit for their own use.

As for family members affording them though... Some of the homes were willed to family members, but they often turned around and sold them anyway, since the lots are very good money, and there are cheaper places in Toronto to live.

 

[cabbagetowner]

About 20 buildings further west, across from Moss Park.

The store design is much more tasteful, with a narrower frontage--the street presence is greatly diminished.

To the previous poster--what is money's relationship to gentrification? Chicken or egg?

imo it all starts with someone willing to make an investment into the neighbourhood. money is the driver, but i wouldn't discount time; energy and committment to the neighbourhood as well.

 

[Oliver Tweed]

Many homes in my area were built in the 50s, but the description you have provided is nonetheless relatively accurate. I live in one of the nicer area of the east end, and interestingly, some of the original bungalows (which by the way have 2-conductor electrical outlets but do not have knob-and-tube wiring) still have the original owners living in them.

It's a morbid death watch... Contractors are watching the nicer lots like hawks. As soon as one of these owners dies, the contractors descend to try to scoop it up to renovate for a flip. Or else a younger more professional couple comes in and scoops it up, and renovates it too, albeit for their own use.

As for family members affording them though... Some of the homes were willed to family members, but they often turned around and sold them anyway, since the lots are very good money, and there are cheaper places in Toronto to live.

One of my neighbours, who is a long-time resident and a widow, can't afford to make repairs or renovations to her home. Her kitchen is sinking badly and there's nothing she can do about it. She's up to her eyeballs in debt already just trying to live month to month. My guess is that she'll live there until either she dies or the house is no longer livable, in which case she'll sell it (for cheap). I love her though, so it would suck to see that happen.

Another one of my neighbours just sold under similar circumstances. He was also a long-time resident who had to move into a retirement home. I'm pretty sure his son didn't have the money to keep up the house (I think he's a deadbeat alcoholic) even if it was willed to him, but I'm guessing my neighbour needed the money he got for the house to live out the rest of his life. A contractor bought the house and the gutting will begin any day now.

I hear about this sort of thing happening often.

 

[Eug]

^^^ Do you mean because of the tax increases? If so, that's understandable, and unfortunate.

OTOH, it seems most I've talked to in my neighbourhood are quite happy as home prices increase here. While they don't enjoy the increased property taxes, they can afford it, and do enjoy the increased property valuations especially if they're planning on selling soon. It seems those who really couldn't afford to live here would have moved out long ago.

 

[Oliver Tweed]

^^^ Do you mean because of the tax increases? If so, that's understandable, and unfortunate.

OTOH, it seems most I've talked to in my neighbourhood are quite happy as home prices increase here. While they don't enjoy the increased property taxes, they can afford it, and do enjoy the increased property valuations especially if they're planning on selling soon. It seems those who really couldn't afford to live here would have moved out long ago.

This part of the discussion was originally a debate about whether gentrification is a one way process or whether it is a cycle of gentrification and de-gentrification. TrickyRicky originally argued that it's a cycle, and that the long-term multi-generational residents have the most impact on where the neighbourhood is going. I believe the exact opposite because what I see is that the long term residents of my neighbourhood are a quickly dying breed and have very little influence. They are being replaced by people with higher incomes as the neighbourhood gentrifies. Eventually they will all be gone and will never be back because the prices are out of reach. While taxes are higher, I'm sure it's partly that they are simply unable to afford the renovations and repairs that these older homes desperately need.

Having said that, the old guard is still happy to see how high the prices have gotten. Nothing cushions the blow of moving out of your old neighbourhood like a huge cheque. And certainly for those of us in the new(er) wave of people moving in, we're also happy to see the prices go up.