Why is it that around city centers there are low income areas, "the projects"? Land value would seem to be worth more, but apparently it's not as these older neighborhoods are often run down and full of low income families.
Now I'm not suggesting kicking these people to the curb but with gas prices going up I can see more people wanting to move closer to town. The inner city areas seem like they'd be prime property to build some nice condos and/or revitalize the exciting housing.
Nashville has some neighborhoods that would be GREAT for commuters who are tired of spending 60-90 minutes each way to and from work. I spend 15-30 minutes (depending on traffic flow) each way and I live only 7 miles from work. There is an entire section of town, "West Nashville" that most people I know wouldn't even consider. The few neighborhoods they would are on the outskirts.
Help me understand. Why do these poor neighborhoods seem to survive in the middle of a thriving city without being bought up by investors and land developers?