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Clay, P. (1980). Neighborhood Revitalization; The Experience and the Promise. In: C. Hartman (ed.) Housing Urban America. Routledge. ISBN 9780203789711
"Neighborhood revitalization" has been occurring in older areas of most large United States cities. Phillip Clay distinguishes two basic forms this process can take: investment by and for existing residents and investment by and for higher income newcomers. In 1978, President Carter announced his Administration's concern with neighborhood revitalization by proposing a new urban policy composed of a series of legislative and administrative initiatives. Primarily, the neighborhood revitalization process requires private investment by outside investors, taking risks on the possibility of a neighborhood's future. Two fundamental types of revitalized neighborhoods may be distinguished. The first type refers to as "incumbent upgrading." The second type of revitalization we might call "gentrification"; it describes neighborhoods where the private rehabilitation was done mostly by outsiders. In some upgrading areas, for instance, people found a particular street or part of the neighborhood that had experienced gentrification.
Philip Clay – Neighborhood Revitalization; The Experience and the Promise