Philadelphia and the rapid gentrification of downtown

Philadelphia has been one of the most rapidly gentrifying metro areas in the nation. A recent study by NCRC found that between 2000 and 2013, 57 neighborhoods in Philadelphia showed signs of residential gentrification. This includes the influx of large numbers of college-educated residents, booming property values, and rising incomes. Mapping these neighborhoods shows the …

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Philadelphia and business disinvestment

To understand why some parts of Philadelphia continue to struggle to attract investment in businesses it is critical to know about the city’s history of redlining and segregation.  “Redlining” was the practice of barring lending in certain areas of cities based not just on the physical factors of the neighborhood and its housing stock, but …

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Minority entrepreneurship in Philadelphia

At the national level, disparities in the proportion of minority-owned and white-owned businesses have been narrowing over time. A 2012 survey of business owners indicated that while nearly 71% of businesses were white-owned, black and Hispanic entrepreneurship increased from 7.1% and 8.3% in 2007, to 9.5% and 12.2%, respectively. Unfortunately, the number of black and …

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What the Community Reinvestment Act means to lending in Philadelphia

For years, advocates have known that the Community Reinvestment Act, or CRA, helps low and moderate income communities gain access to financial services, loans, and community development investments that would otherwise be unavailable. Since 1996, over $2 trillion in community development, mortgage, and business loans were made by banks obligated to invest in their communities …

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