This process is known as "gentrification".
Explanation:
A method of transforming a neighborhood's characteristics through the inflow of more wealthy businesses and residents. This is a prominent and problematic subject among politicians and urban planning departments, thus known as Gentrification. In the most simplest form it is the arrival of wealthier people in an existing urban district.
The prospect of displacement as a consequence of gentrification allows the neighborhood more challenging and therefore introduces a social cost. This burden is borne by the nation as a whole, and not just by the deprived or displaced people.
