gentrify

gen|tri|fy /dʒ'entrɪfaɪ/ (gentrifies gentrifying gentrified)
[VERB] usu passive, be V-ed
When a street or area is gentrified, it becomes a more expensive place to live because wealthy people move into the area and buy the houses where people with less money used to live.
The local neighbourhood, like so many areas of Manhattan, is gradually being gentrified.
gentrification [N-UNCOUNT]
...the gentrification of the area.

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