Business improvement districts (BIDs): An economic development policy or a tool for gentrification

This paper examines the roles of business improvement districts (BIDs) in revitalizing struggling neighborhoods and downtown areas in urban settings. For decades, New York City has been using BIDs as policy tool to help businesses thrive in rough areas. Previous research has shown that while BIDs ca...

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Autores principales:	Bakry Elmedni, Nicole Christian, Crystal Stone
Formato:	article
Lenguaje:	EN
Publicado:	Taylor & Francis Group 2018
Materias:	business improvement district gentrification residential rent commercial rent property value neighborhood revitalization neighborhood transformation Business HF5001-6182 Management. Industrial management HD28-70
Acceso en línea:	https://doaj.org/article/0a2951b48c37482d8c5e17a98d90a7a2
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spelling	oai:doaj.org-article:0a2951b48c37482d8c5e17a98d90a7a22021-12-02T14:07:32ZBusiness improvement districts (BIDs): An economic development policy or a tool for gentrification2331-197510.1080/23311975.2018.1502241https://doaj.org/article/0a2951b48c37482d8c5e17a98d90a7a22018-01-01T00:00:00Zhttp://dx.doi.org/10.1080/23311975.2018.1502241https://doaj.org/toc/2331-1975This paper examines the roles of business improvement districts (BIDs) in revitalizing struggling neighborhoods and downtown areas in urban settings. For decades, New York City has been using BIDs as policy tool to help businesses thrive in rough areas. Previous research has shown that while BIDs can be very useful tool for enhancing the physical appearance, bringing in more foot traffic and increasing the property value in the districts where are instituted, they can also be a driver for complete transformation of a neighborhood by raising the real estate value. In doing so, they increase residential and commercial rental rates in the area. In addition to revitalizing dilapidated areas, BIDs can also be counterproductive by shifting the burden to low-income residents and small business owners. This paper outlines and documents the process through which BIDs transform an area from the perspectives of renters, business owners and BIDs directors in 16 of Brooklyn’s 25 BIDs districts. Using qualitative research design, we interviewed 46 participants in these districts, including 16 BIDs directors. The study shows in the process of transforming an area that BIDs produce immediate, intermediate, long-term and lasting impacts. Immediate impacts range from enhancing the physical appearance to increase in sales while intermediate and lasting impacts range from driving rental rates to complete social and cultural transformation of the area in few years.Bakry ElmedniNicole ChristianCrystal StoneTaylor & Francis Grouparticlebusiness improvement districtgentrificationresidential rentcommercial rentproperty valueneighborhood revitalizationneighborhood transformationBusinessHF5001-6182Management. Industrial managementHD28-70ENCogent Business & Management, Vol 5, Iss 1 (2018)
institution	DOAJ
collection	DOAJ
language	EN
topic	business improvement district gentrification residential rent commercial rent property value neighborhood revitalization neighborhood transformation Business HF5001-6182 Management. Industrial management HD28-70
spellingShingle	business improvement district gentrification residential rent commercial rent property value neighborhood revitalization neighborhood transformation Business HF5001-6182 Management. Industrial management HD28-70 Bakry Elmedni Nicole Christian Crystal Stone Business improvement districts (BIDs): An economic development policy or a tool for gentrification
description	This paper examines the roles of business improvement districts (BIDs) in revitalizing struggling neighborhoods and downtown areas in urban settings. For decades, New York City has been using BIDs as policy tool to help businesses thrive in rough areas. Previous research has shown that while BIDs can be very useful tool for enhancing the physical appearance, bringing in more foot traffic and increasing the property value in the districts where are instituted, they can also be a driver for complete transformation of a neighborhood by raising the real estate value. In doing so, they increase residential and commercial rental rates in the area. In addition to revitalizing dilapidated areas, BIDs can also be counterproductive by shifting the burden to low-income residents and small business owners. This paper outlines and documents the process through which BIDs transform an area from the perspectives of renters, business owners and BIDs directors in 16 of Brooklyn’s 25 BIDs districts. Using qualitative research design, we interviewed 46 participants in these districts, including 16 BIDs directors. The study shows in the process of transforming an area that BIDs produce immediate, intermediate, long-term and lasting impacts. Immediate impacts range from enhancing the physical appearance to increase in sales while intermediate and lasting impacts range from driving rental rates to complete social and cultural transformation of the area in few years.
format	article
author	Bakry Elmedni Nicole Christian Crystal Stone
author_facet	Bakry Elmedni Nicole Christian Crystal Stone
author_sort	Bakry Elmedni
title	Business improvement districts (BIDs): An economic development policy or a tool for gentrification
title_short	Business improvement districts (BIDs): An economic development policy or a tool for gentrification
title_full	Business improvement districts (BIDs): An economic development policy or a tool for gentrification
title_fullStr	Business improvement districts (BIDs): An economic development policy or a tool for gentrification
title_full_unstemmed	Business improvement districts (BIDs): An economic development policy or a tool for gentrification
title_sort	business improvement districts (bids): an economic development policy or a tool for gentrification
publisher	Taylor & Francis Group
publishDate	2018
url	https://doaj.org/article/0a2951b48c37482d8c5e17a98d90a7a2
work_keys_str_mv	AT bakryelmedni businessimprovementdistrictsbidsaneconomicdevelopmentpolicyoratoolforgentrification AT nicolechristian businessimprovementdistrictsbidsaneconomicdevelopmentpolicyoratoolforgentrification AT crystalstone businessimprovementdistrictsbidsaneconomicdevelopmentpolicyoratoolforgentrification
_version_	1718391945424797696

Business improvement districts (BIDs): An economic development policy or a tool for gentrification

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