Jerry Brito

Ask the local gentry

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It’s official. My neighborhood has gentrified. A brand-spankin’ new Starbucks is opening up across the street from the Whole Foods.

Besides this, more than three new luxury apartment buildings are going up around here, including this one across the street whose construction wakes me up every day at 8 a.m. Plus tons of new little shops, restaurants, and art galleries where once there were only rat-infested abandoned row houses.

I must say that I’m thrilled about all of this. They say the economy’s tanking, but you wouldn’t know it by looking around where I live. I’ve never seen so much construction in the District–both residential and office space. Plus there are lots of new business opening up to service the Bobos who’ve discovered the blessings of downtown urban living. I guess DC is a bit insulated from the state of the economy because our industry is government, and that isn’t going anywhere.

Demand seems to be skyrocketing and rents are going through the roof. So how does yours truly afford to live in such an exclusive locale? Our old friend rent control. I paid my dues by moving in here when this area was resolutely a ghetto. Three years ago you wouldn’t dare walk after dark around where the Starbucks is now opening.

It’s times like these that make me doubt my free market principles. But seriously, they’re reinforced. My rent situation exemplifies public choice theory; and government didn’t renew the ghetto, yuppies and businesses did. The NYT’s lone libertarian, John Tierney, has consistently written great articles on urban issues. Here’s his take on rent control. And here’s a piece on gentrification. Tierney points to studies showing that people aren’t displaced by urban redevelopment; they stick around and they benefit–even those without rent-controlled dwellings.

But I can see how people would have problems ignoring anecdotal evidence. In four years the composition of my building’s tenants has gone from mostly black and working class immigrants, to young hip couples and smartly dressed gay guys (and me). More.

Mar 28, 2003 | Comments