Revitalization can help bring a city back to life. It makes cities more modern for the rising youth. Revitalization makes it to where the city looks better for tourists coming to look at some of the great attractions the city has to offer. If you revitalize an area, there is more opportunities to make money for upcoming or new businesses, thus providing the city with more tourist attractions and revenue. If you revitalize, an area you also can make it more appealing to the youth so businesses can continue to grow. This is one thing that Birmingham has been very busy doing.
Revitalization can also have negative effects on a city. Revitalization can make people living in the area that’s being revitalized turn against the city. Revitalization can also spread gang activity into new areas. When revitalizing, tax for citizens will go up in an effort to keep up with paying for the place being revitalized. If revitalization fails, it is pretty much just space that is being taken up and taking away opportunities for more businesses. Places may have a high crime rate so it can be harder to get an area “clean” enough to revitalize it.
For a example, the Thomas Jefferson building is a great example of the revitalization and it has pros and cons. The Thomas Jefferson Building that is a 20 story hotel that was last to be built before the great depression it has been revitalized. The building now includes 100 apartments, 23,700 square feet of commercial space,a restaurant and a 14,000 square foot event space open to the general public. The builder said the project would not have been achievable without historic tax credits filling a gap in financing. The picture below is a before and after.