It’s all part of the city life cycle: a regular area eventually gets run down as life and times moves on, it becomes less attractive so less number of folks live there, so less businesses survive there, so there’s less tax collected to fund local services, so the place looks dodgy, so the rents go down, so the area attracts less desirable types. After a period it’s the alternative/creative types that get established there, they rebuild the place with cool bars and coffee shops and art galleries, more folks want to live there, more tax gets collected, rents and realty go up, the cool kids move out, a regular area is reestablished. Rinse repeat. It’s been interesting to watch this happen around New York districts multiple times over the years and I see it in Brisbane’s West End and New Farm/Newstead area also.