Changing Investment Patterns in City Neighborhoods: The St. Louis Case

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This paper examines the investment practices and career of one of St. Louis’ largest owners of low-income rental property. In the process, it describes the conditions associated with decline and revitalization in central city housing markets that are dominated by private-sector institutions. The public policy implications of urban renaissance also are briefly discussed. Although the “back-to-the-city” movement and its effects in St. Louis are exaggerated by some observers, displacement of low-income families is occurring. Accordingly, public oversight and regulation of private market revitalization are imperative.

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