mission district

gentrification

transformation of a city or neighbourhood from low value to high value

evidence in MD: latino population decreased from 44% to 38% in 2013 and number of people with college degree increased from 18% to 52% in 2003

dot com boom 1995-2001

players: stock market bubble caused by excessive speculation of internet related companies

Mission district = chosen for many higher income white, tech workers

multiple transportation forms to financial district and silicon valley

higher incomes meant that landlords could charge higher rent values that locals could not pay

the Ellis Act in 1985

state law allowing landlords to evict tenants by removing the building from the rental market

housing already strained- increasing stress

properties available are put up for rent at higher prices because of white tech workers (gentrification)

tenant buyouts

landlords attempt to lure current tenants out of the property with cash so that they can put it up for higher rent for wealthier residents

properties become more expensive to rent

lower income residents can no longer afford to live in that area so the wealthier tech workers and their families move in (gentrification)

impacts of gentrification in Mission District

very high cost of living

loss of culture within the demographic

housing burden increased

fewer family households

decrease in latino population

increase in population with bachelor’s degree/ higher/median income

buyouts are rapidly inclining

1979 street project by Maximus Real Estate Partners

project resulting in 41 middle class and 49 affordable low market value apartments and 290 rentals

plaza 16

a non profit organisation in San Francisco, CA that help low income communities of color benefit in decisions that shape the neighbourhoods

why is 1979 causing conflict

poorer and working class residents are being displaced and cannot afford the newer properties

neighbourhood culture is being lost