Gentrification is the process by which lower-income neighbourhoods experience an influx of higher-income residents, rising property values, new businesses catering to wealthier clientele, and physical improvements to buildings and public spaces. While gentrification can bring benefits like reduced crime, improved amenities, and increased property tax revenue, it also creates significant problems: existing residents may be displaced by rising rents and property taxes, local businesses may close as customer bases change, and neighbourhood character and social networks may be disrupted. Gentrification raises equity concerns—long-term residents who contributed to neighbourhood improvement may be unable to afford remaining. Municipal responses include affordable housing requirements, rent stabilization, property tax relief for long-term residents, and inclusionary zoning. The challenge is capturing benefits of neighbourhood investment while preventing displacement of vulnerable residents.