There is a very common story that plays out in cities. It starts with an area that has seen disinvestment and is probably a little seedy and/or dangerous . This creates an environment where rents and real estate as a whole are relatively inexpensive. New, cool and creative businesses start to move in (attracted by said inexpensiveness) and the area begins to turn around. Eventually it becomes suitable for institutional-type investors, and this ultimately leads to everything becoming expensive as a result of demand outstripping supply. Gentrification complete.
The great irony of this story is that you sometimes, or oftentimes, lose the very things that made the area cool and interesting in the first place. Here is an example from Miami:
The result has been a property speculation boom that, when combined with the city's relatively low wages, put many businesses and residents on the street. Asking rents for industrial space, for instance, went up by 53 percent