"Reverse gentrification" study plugs Buffalo
The Federal Reserve Bank of Cleveland released a study recently that examined four cities, Cleveland, Pittsburgh, Detroit and Buffalo, with a specific focus on "reverse gentrification," where higher-income neighborhoods contract as surrounding areas lose their wealth. Economist Daniel Hartley found that "all experienced large population losses, declines in income and in mid-tier neighborhoods, and little change in median home prices from 1970 to 2006. But incomes in higher-income neighborhoods grew much faster in Pittsburgh and Buffalo than in Cleveland and Detroit, which Hartley attributes to large gains in educational attainment in those neighborhoods, which are close to these cities' major higher education institutions," according to a bank overview of the study. Neighborhoods near colleges and universities in Pittsburgh and Buffalo have "attracted highly skilled residents," Hartley writes. "By contrast, some of the neighborhoods closest to Cleveland's major higher education institutions are outside the city limits...The top decile neighborhoods of Pittsburgh and Buffalo have also experienced sizable gains in educational attainment." • A Duke University dean talks about what recent MBA grads should expect in the workforce, reporting, "Today's successful MBA hire is one who can demonstrate flexibility amid rapidly changing business conditions, develop productive relationships across cultural and language barriers, and make sound decisions even when operating with incomplete or imperfect information," according to the Triangle Business Journal. • Business First recently posted a slideshow of construction projects around local campuses, with science buildings a prominent feature. As this feature points out nearly every week, the move to modernize science facilities is a national one. This week, the Baltimore Business Journal reportes on Coppin State University's ground-breaking for its $121 million, 150,330-square-foot Science and Technology Center.