The gentrification process in the redevelopment of Tsuen Wan centre : social and economic impacts

Abstract

Gentrification always happened when the urban regeneration is property-led. The private sectors are mainly focus on the profit on redevelopment the old dilapidated areas and always ignore the needs of local neighbourhood. As such, this dissertation aims at studying the gentrification effects in terms of social and economic aspects. The positive impacts are obvious that it will bring economic benefits to the neighbourhood. However, in the social aspects, gentrification will inevitably bring loss to the community. Urban regeneration in Tsuen Wan Centre is quite interesting that although the economic benefits are boosted up, but the social capital between community is not lost and the social capital level in is proved to be very high. The Tsuen Wan Centre redevelopment has been public sector driven and represents primarily one very large residential-commercial complex project. While some level of gentrification is represented by the Citywalk and Vision City development, which has clearly had some impact on the surrounding area, there appears to have been economic benefits and little social change as well as little acceleration of redevelopment in the surrounding neighbourhood.