In the News

Gentrification is usually thought of as a positive for cities as a whole, but a problem for longer-term residents of gentrifying areas: they are displaced by higher rents or increasingly alienated from their changing community.

RVA Magazine, July 31, 2019: GRTC Connects: Route 12 – Church Hill to the East End Strolling down the tree-lined avenues of historic homes, manicured mini-lawns, and tastefully curated porches of Church Hill, one could be forgiven for thinking they were out on a jaunt in Georgetown or Old Town Alexandria. Alas, a glance down

The National Community Reinvestment Coalition, an organization that works to uphold fair housing, fair lending and consumer protection laws, issued the following statement by CEO Jesse Van Tol on GSE Patch.

In March, Denver was recognized in a report called “Shifting Neighborhoods” by the National Community Reinvestment Coalition as the city leading the nation in displacement of Latinos. The city’s new leadership of council enters with a historic amount of Latinas, mounting social and economic challenges from growth and a new Denver Comprehensive Plan 2040 for the city.

Earlier this year, the National Community Reinvestment Coalition released a report that found the District suffered the most widespread low-income displacement of any major central city since 2000.

The proposed merger between BB&T and SunTrust Banks cleared another hurdle Wednesday as lawmakers questioning the companies’ chief executives showed little interest in slowing the deal.

SunTrust and BB&T’s $60 billion merger, which would create the country’s sixth-largest bank, will face its biggest test yet Wednesday when the banks’ CEOs face off against skeptics in the House.

When it comes to Washington, D.C., and the ever-shifting racial statistics of its population, gentrification is always a topic of discussion.

Communities in western Montgomery County that are home to low- and moderate-income potential borrowers for mortgage loans, small businesses with revenues of less than $1 million and selected non-profit organizations all are among those who may benefit from a three-year, $60 billion lending fund being assembled by two banks planning to merge this fall.

More than 50 years after the Fair Housing Act of 1968 outlawed housing discrimination on the basis of race, sex, national origin and religion, segregation persists in some of America’s largest cities.

“We use and celebrate the $60 billion number because it is a way for people to understand that this is a big deal, this is significant,” Van Tol said. “But the quality is the more significant thing. Our whole process is aimed at meaningful commitments.”

Banks could start earning CRA credit for the assistance they provide to communities in the event of natural disasters.

Washington, D.C., has been declared the most gentrified city in the country, according to a study by the National Community Reinvestment Coalition. Beyond the more than 20,000 Black D.C. residents who have actively been displaced since 2000, drastic increases in commercial rent and property taxes are also forcing long-loved Black-owned businesses to close their doors.

After decades of the federal government playing a limited role in local land-use regulations, there is renewed interest on both sides of the aisle for a stronger federal effort to reign in restrictive zoning laws.