2015: Neubau-Gentrifizierung und globale Finanzkrise. Der Stadtteil Gallus in Frankfurt a.M. zwischen immobilienwirtschaftlichen Verwertungszyklen, stadtpolitischen Aufwertungsstrategien und sozialer Verdrängung. In: Sub\urban. zeitschrift für kritische stadtforschung 3 (3), 7-32 (original) (raw)

Since the beginning of the global financial crisis in 2008, many urban centers in Germany are faced with a new wave of gentrification. By focusing on the working class neighborhood Gallus in Frankfurt a.M., the paper aims at explaining the recent displacement processes of low-income households by looking at both municipal-led urban renewal plans and real estate investment strategies. Thereby, we argue that the local political elites, deeply entrenched in neoliberal rationalities, have actively fostered gentrification processes and the development of a rent gap within this traditional working class neighborhood over decades – a rent gap that, however, has only gained its relevance in the aftermath of the global financial crisis. Therefore, the example of Gallus shows that gentrification and displacement are strongly dependent on local power relations; while the rhythm is, at the same time, dictated by real estate investment cycles.

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