SoHo effect
when artists move into undeveloped neighbourhoods and home prices rise
TRANSLATION
SoHo effect = Prozess im Strukturwandel eines Stadtviertels, bei dem junge Intellektuelle und Künstler in ein heruntergekommenes Viertel ziehen und es aufwerten, aber schließlich durch steigende Mieten wieder verdrängt werden --- GOOGLE INDEX SoHo effect: approximately 2,000 Google hits
STATISTICS
IN THE PRESS
"I worry about the SOHO EFFECT," she said, referring to the artsy but expensive warehouse district in Manhattan.
(The News Observer)
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Artspace, which owns and manages 18 artist housing projects nationally from Washington State to Bridgeport, Conn., painstakingly rehabilitates abandoned historic buildings into affordable loft-style dwellings, transforming blighted areas with a SOHO EFFECT.
(New York Times)
(The News Observer)
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Artspace, which owns and manages 18 artist housing projects nationally from Washington State to Bridgeport, Conn., painstakingly rehabilitates abandoned historic buildings into affordable loft-style dwellings, transforming blighted areas with a SOHO EFFECT.
(New York Times)
Did you
know?
SoHo effect
noun phrase
- when the artists who made a neighbourhood cool and exciting are forced to move out because they cannot afford the rents after the area becomes gentrified
(WordSpy)
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SoHo is a section of New York City that is roughly "south of Houston Street," thus giving rise to the acronym. It became a haven for the artist community in the 1970s. This resulted in something called the SoHo effect, or artist-led gentrification, which the Times Of India describes as follows:
"Homes occupied by artists turn an area into a safe residential neighbourhood for affluent people to move into. But with increasing demand, prices begin to rise, making the area unaffordable for the artists who lived in the neighbourhood in the first place."
Apart from the SoHo effect, cities sometime experience developments like:
- yuppie slum = an upscale neighbourhood populated mostly with young professionals and managers or a neighbourhood with older and slightly run-down houses that young professionals purchase and renovate.
- golden ghetto = an urban area with an above-average concentration of high-end stores and affluent housing.
(sources, WordSpy, Wikipedia)
---
SMUGGLE OWAD into today's conversation
"The value of their property has doubled in within three years because of the SoHo effect."
noun phrase
- when the artists who made a neighbourhood cool and exciting are forced to move out because they cannot afford the rents after the area becomes gentrified
(WordSpy)
---
SoHo is a section of New York City that is roughly "south of Houston Street," thus giving rise to the acronym. It became a haven for the artist community in the 1970s. This resulted in something called the SoHo effect, or artist-led gentrification, which the Times Of India describes as follows:
"Homes occupied by artists turn an area into a safe residential neighbourhood for affluent people to move into. But with increasing demand, prices begin to rise, making the area unaffordable for the artists who lived in the neighbourhood in the first place."
Apart from the SoHo effect, cities sometime experience developments like:
- yuppie slum = an upscale neighbourhood populated mostly with young professionals and managers or a neighbourhood with older and slightly run-down houses that young professionals purchase and renovate.
- golden ghetto = an urban area with an above-average concentration of high-end stores and affluent housing.
(sources, WordSpy, Wikipedia)
---
SMUGGLE OWAD into today's conversation
"The value of their property has doubled in within three years because of the SoHo effect."
