gentrified area

A gentrified area is a neighborhood that has undergone gentrification—where wealthier residents and businesses have moved in, displacing lower-income communities and transforming the character of the place.

The term often carries critical connotations, implying that economic development came at the cost of longtime residents: Coffee shops and boutiques replaced the bodegas, and now it's a gentrified area where none of the original families can afford to live.