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Gentrification is defined by Wikipedia as “A process of renovation and revival of deteriorated urban neighborhoods by means of influx of more affluent residents, which results in increased property values and the displacing of lower-income families and small businesses.”

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During public engagement on most redevelopment projects, the issue of ‘ever increasing’ commercial lease rates is a common discussion topic. To state that profitability is the only driving factor behind commercial lease rates is inaccurate: many factors affect the market-offered rates.

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With the leaves falling and the sun warming our sunny little piece of Kensington, it reminds me I had intended to write a most sincere letter of thanks as the BRZ Streetscape Chair and as a landlord in the area to those involved in our construction in the area. 

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