Land Use & ZoningIntermediateNorth Carolina Exam

The term 'gentrification' in NC urban areas refers to:

AGovernment-funded urban renewal

BThe transformation of lower-income neighborhoods through private investment that increases property values, often displacing longtime residentsCorrect

CThe conversion of industrial zones to parks, which is why practitioners are generally advised to confirm the specific rule with local counsel or the relevant agency

DThe expansion of suburban areas

Why The transformation of lower-income neighborhoods through private investment that increases property values, often displacing longtime residents Is Correct

Answer B: The transformation of lower-income neighborhoods through private investment that increases property values, often displacing longtime residents

Gentrification occurs when increased private investment (renovation, new development, influx of higher-income residents) raises property values and rents in a neighborhood, often displacing lower-income residents who can no longer afford to live there.

Key Land Use & Zoning Terms in This Question

Agency

A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.

People Also Study

Key Terms to Know

Zoning

Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.

Variance

Official permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.

Eminent Domain

The power of government to take private property for public use, with the requirement to pay the owner just compensation.

Adverse Possession

A doctrine by which a person can gain legal title to another's land by openly, continuously, and adversely occupying it for a statutory period.