Economy in real trouble, do you wonder what will happen next?

buy my house

Gentrification in Harlem, NYC is at such a rapid pace that it has the potential to transform the "Black capital of America" into just another melting pot in the already extremely diverse borough of Manhattan. What exactly is gentrification? Gentrification, (also known as urban gentrification) is a phenomenon in which low-cost, physically deteriorated neighborhoods undergo physical renovation and an increase in propertyvalues, along with an influx of wealthier residents who may displace the prior residents. Countless families have been displaced from their homes as a result of skyrocketing rent. It may not be long before African-Americans and Latinos, similar to late 19th century and early 20th century, become the minorities of Harlem again.

People may argue that the recent changes in Harlem benefit some and cause detriment to others. However, it seems that small time business owners are not the beneficiaries in the situation. Black-owned "Mom's & Pop's" stores are being put out of business by large corporations on a regular basis. Don't get me wrong, it's great to bring big name stores into Harlem to provide the area with luxuries but not at the expense of putting current minority-owned stores out of business.

In the gentrification era of Harlem former African-American basketball legend Magic Johnson had a movie theater built known as "Magic Theaters" (pictured to the left alongside a typical building in Harlem before gentrification) and a Starbucks in the central business district of Harlem, 125th street and 8th avenue. Johnson's reasoning for building these franchises, which are already overtaking many locations in Manhattan, (Starbucks boasting over 150 locations in Manhattan but few in urban areas) is that "minorities are traveling 40 minutes to get to a Starbucks." Furthermore, his grounds for the construction of these franchises is that if people are going to spend money on the products, why not offer them in urbanized areas to stimulate the economy in minority filled locations? Keeping businesses in Harlem black-owned is easier said than done, however. Walking through Harlem, it isn't uncommon to see many stores closed on foreign holidays, an indication of who owns the business. The biggest problem for working class residents in Harlem is the potential, or maybe inevitable, displacement they will have to face. Elevated rent in buildings in the Harlem area make it nearly impossible for current residents to pay rent and provide for their families.