Quote:
Originally Posted by Vlajos
The anti gentrification crowd are fucking idiots. If Chicago is going to solve its financial mess (as the IL Supreme Court has determined we can't alter unearned future benefits of current public employees), it needs more gentrification, not less.
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Chinatown is a separate type of case, and they are essentially gentrifying themselves while keeping their culture. Similar to what has happened and is happening in Flushing in NYC. Chicago Chinatown for awhile was old school Cantonese or American Chinese places. In the last decade it's been "infiltrated" by more mainland businesses that are also nicer. The Chinese people in Chicago sway more educated and also make just as much is not more on average than those in NYC and SF.
There are numerous projects going on or about to happen in and around Chinatown by Chinese developers and while it's not million dollar housing, it's not cheap. These range from that retail plaza being built in Chinatown with room for 40+ restaurants to that warehouse nearby being converted to a 200 room hotel with upscale spa, home furniture store, handful of restaurants...to 30+ new SFH being built on industrial land in Bridgeport to multiple mixed use about to be built
Look at the new multi unit buildings on Halsted right south of i55. Almost instantly full of Chinese businesses. Chinese people in average are very pro development and many of the younger people love also non Chinese things. They don't want to see their culture go away..they are HUGE on culture, but in my view they seem to work smarter when building new things and needing retail/commercial space to be filled up right away.
Here's the thing..to many from China, their view of wanting space is not the same as some other people. My finances parents live in the very edge of Shanghai. They love nature, hiking, etc but they also want to live near things. They still live in a 8 story residential building and there are numerous 30 story towers around. The only difference is that they have zen gardens out their front door and the then that is good enough. 5 minute walk and they have streets with 100 restaurants away. 10 minute drive away and they are in the country where almost nobody lives and nature, but they don't need a sfh or anything.
When we took them to Bridgeport, they thought it was the suburbs. When the 78 comes, you bet your ass they will build more. I guarantee it. It's $$ and they aren't dumb enough to be so insular and not open even more business and probably understand that they're the ones who can build new buildings to house people who work at the 78. That one company in town is already doing it in the area by building tons of new retail and many new residential buildings.