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5.tertiary economy and its social and economic impacts (Gentrification…
5.tertiary economy and its social and economic impacts
why urban models are no longer applicable to every urban area
development of transportation, innovated business models and cities are becoming increasingly diverse
the urban growth machine theory proposed by Molotch
factors that promote service sector growth
- Birmingham
retail
Birmingham city centre attracts over £2 billion visitor expenditure and more than 30 million visitors per year.
Investment of £220 million in and around the retail core, particularly the Bullring
• £150 million Grand Central
• £50 million renovation Mailbox
• £20 million refurbishment on Selfridges
•
World Largest Primark
Driven by affluence:
high levels of income has increased demand for leisure
entertainment
Driven by demographic change
:
under 25s account for nearly 40% of Birminghams population,
making it one of the youngest cities in Europe. 3 successful universities.
night life in Birmingham is described as a "bustling and lively city"
2017 Dares Bar and underground restaurant
commercial
HSBC relocated their head office in Birmingham in 2017, bringing 1000 jobs
Largest concentration of businesses outside of London - home to over 36,000 companies including almost 700 international firms, many of which are members of
Birmingham Chamber of Commerce (designed to connect, support and grow local businesses)
Driven by technological activity:
increase in agglomeration economies promotes transfer of information and ideas
technology, affluence, leisure, transport, etc.
Gentrification
Brixton
:check: After brixton's political oppression in 1981 (riots and crimes), a negative footprint was left across the area. Regeneration bring economic benefits, infrastructure improvements and
removal of negative connotations.
:red_cross:
House prices have risen by 75% per year for the last 10 years.
Unrealistic for new residents to get on the property ladder, and for new residents to afford their current homes. Threatens multicultural community.
Los Angeles, USA
:red_cross: uniqueness is being replaced rather than maintained.
The black population is expected to decrease from 88% to 41% in 3 years.
Dense construction is taking place which are dwarfing any historic or cultural buildings already there.
:check: Venice beach is
prime location for wealthy residents and upcoming businesses.
Multiplier effect for innovate and youthful people. Art is still a huge historic base in LA and will flourish with new creatives.
London
:red_cross:
Nottinghill:
In 1996 a two bedroom house cost £31,000. Today it costs £300,000.
:red_cross:
Cricket-field Road, Hackney:
319% price increase as a result of the Olympics
Brooklyn, NYC
:check::red_cross:
neighbourhood transitioned from illegal immigrants to artists and young professionals.
Negative is that it has lost intense community spirit, but positives are major reductions in crime and less neglected, deprived areas.
properties purchased by
plutocrats
definition: replacing lower income families with middle income families
continuing decline
out of town retailing - Meadowhall, Sheffield
Around 270 retail outlets in one convenient location
12,000 free parking spaces
dedicated integrated transport interchange
92% of people who work in Meadowhall live in Sheffield. Job created.
18% of business rates collected from council come from meadowhall.
multiplier effect - helped regenerate surrounding areas like Rotherham, who have reopened shops because of more tourism
hoping for a £300 million investment to develop even more
office parks - Cobalt Business Park, Newcastle
UK's largest office park
1,000 bus journeys pass through the park daily,
transport connections are extremely good.
train lines to Edinburgh and London.
covers more than 2.5 million sq ft.
3 good universities nearby.
internet shopping
amazon prime and paypal
easier access to global markets
general changes in service economy
Clonetowns
: Winchester, Exeter, etc.
Dudley high street decline, 30% shops are vacant.
zero hour contracts - good for students
seasonal work
Mary Portas
"the high street is not dead, it just been to be reimagined"