Collegetown and Gentrification?

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At the Rose Cafe talk last Wednesday I learned a lot about the housing market in Ithaca. There is a kind of monopoly on new construction which allows builders to set their own prices, and as a result, make it more and more expensive to live in the area. New construction made to capitalize on the demand for more off-campus student housing is, essentially, pushing people who live in Ithaca full-time out of their homes. I think that this phenomenon is similar to (or might even be?) gentrification. Gentrification has been a big issue in my home city because tech companies are developing in neighborhoods where the cost is cheaper and the demand for housing for people who work at these companies is driving locals out of their homes. I noticed a lot of parallels between the Ithaca housing market and the housing market at home… I wonder what the solution could be?

3 thoughts on “Collegetown and Gentrification?”

  1. It would be interesting to think about the balance that needs to be struck between modernization the expansion of current housing with the needs of the local community as well. I do not believe that this new housing push can realistically be stopped, nor should it, but rather that the city and developers should work to help those displaced as well.

  2. This is a really interesting perspective to consider, especially with all the recent buzz about demolishing/repurposing local places like CTB and The Nines. As the previous commenter said, I think there must be a balance between modernizing and respecting the status quo. I only hope this can be done in a way that doesn’t turn Collegetown housing into a luxury that many students can’t afford.

  3. I relate with this post as I feel that it is unfair that people are capitalizing on students’ need for housing. I agree with the top two commenters on how there needs to be a balance between the community and modernization, and I believe this could best be done by regulating these efforts similar to how regulations are made in the market. In this manner, it must be that nobody has incentive to overly charge other people, if there are harsh consequences in place, although I believe that the implementation of this across college campuses may be challenging.