When "urban renewal" of lower class neighbourhoods with condos attracts yuppie tenants, driving up rents and driving out long time, lower income residents. It often begins with influxes of local artists looking for a cheap place to live, giving the neighborhood a bohemian flair. This hip reputation attracts yuppies who want to live in such an atmosphere, driving out the lower income artists and lower income residents, often ethnic/racial minorities, changing the social character of the neighbourhood.
It also involves the "yuppification" of local businesses; shops catering to yuppie tastes like sushi resaturants, Starbucks, etc... come to replace local businesses displaced by higher rents.
Steepshot