“…The perception that historic preservation will spur gentrification dates to the 1970s, when higher income residents, often described as “urban pioneers,” began to seek out and renovate architecturally interesting urban neighborhoods (Laska & Spain, ; Lees, Slater, & Wyly, ). Recent scholarship documenting that historic districts do, in fact, tend to raise property values intuitively supports the idea that low‐income populations, particularly vulnerable renters, might get pushed out of historic areas (Coulson & Lahr, ; Coulson & Leichenko, ; Leichenko, Coulson, & Listokin, ; Mason, ; Ilja, Ryberg, Rosentraub, & Bowen, ; Shipley, Jonas, & Kovacs, ) . Since all housing units produced via RTC investments must be rentals, the perception that renters will be victims of gentrification in historic areas seems plausible.…”