gentrification

/dʒɛntɹɪfɪˈkeɪʃən/
noun
  1. 1

    (urban studies) The renewal and rebuilding that accompanies the influx of middle class or affluent people into deteriorating areas and often displaces earlier, usually poorer, residents; any example of such a process.

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Source: https://en.wiktionary.org/wiki/gentrification