A study conducted by the National Community Reinvestment Coalition has revealed that Denver is the second most gentrified city in the United States. The study found out that gentrification was not only contributing to the growth of the city but also impacting the lives of people.
According to Candi Bacca, Denver City’s councilwoman, the city had been designed in a manner that glorified racism. People from different races and classes were designated to live in certain places in the city.
Gentrification normally occurs when residents become affluent all of a sudden and drive out the natives.
The study discovered that more than 27 percent of residents within Aurora were gentrified. Although the focus has always been on the city’s Five Points, the Northern and Western parts are now feeling the impact.
Becca admitted to the fact that linkage fees applied to developers has not managed to raise adequate funds to fund affordable housing.
She said that there was a need to increase efforts at the state level to implement property laws that will force people to remain at homes in case of a pandemic.
“The linkage fees could not even raise the expected $15 million. At the same time, there is no way we can start imposing taxes on developers out of the blues. It will be viewed as rent control” said the city councilwoman.
So far the Real estate official supports the efforts put by Denver authorities. They said that city's leadership had shown its resolve in achieving the goal of affordable housing.
“I want to express my appreciation to what Denver is doing to construct more houses for low-income earners. I have visited other municipalities and I haven’t seen much work as it has been done here” said Aaron Miripo, President of the Urban Land Conservancy.
Urban Land Conservancy buys buildings and land for the purposes of developing them into affordable housing and business units.
Meripoli asserted that there’s a need for a broader approach in tackling the problem of gentrification – particularly for situations that involve companies with huge tracks of land.
We would like to remove the question of land so that real estate companies don’t take advantage of the market rates to push local residents.
The increase in the value of property and taxes have forced out many local businesses and residents from Five Points Denver – something that has greatly changed the historic neighborhoods of black communities.
This has led to calls by locals to change the wealthy and famous River North District to its original name – Five Pints.
Shannon Martin who is championing the changes said that the history of Five Points is slowly being erased.
“I have deeply been troubled an article in 2018 glorifying the so-called River North District. Most states know about RiNo and don’t have an idea about Five Points” said Shannon.
Shannon’s dad owned a business for 26 years in Five Points - before his demise. Martin Shannon is pushing to have the name changed so as to uplift the living standards of people of color.