Does the Revitalization of a Historic place in the city have an economic interest?
The historical revitalization and preservation help keep communities beautiful, vibrant, and livable and gives people a stake in their surroundings. It connects people with their past, and with one another. Rather than building new ones, or demolishing existing ones — is environmentally responsible. It is usually more environmentally-friendly to rehabilitate existing structures and maintain and improve existing infrastructure than to simply destroy and replace them. Therefore, Revitalization is economic progress wherein it is a beneficial product for the people, culture, and heritage.
Urbanization has brought improvements to social welfare and economic development, while cities have been playing important roles in our society, e.g., as a symbol of creativity, imagination and power of humanity, the cradles of innovation and knowledge creation, the heart of socio-cultural transformations, and engines of economic growth (Wu 2010). Yet, urbanization is one of the many human activities that have a serious impact on the natural environment, both locally and globally (Grimm et al. 2008; Wu 2010; Seto et al. 2011).
And According to the research of Ronald C. Estoque and Yuji Murayama (2014) the sustainability of the urbanization process of Baguio City, a hill station city and the summer capital of the Philippines, determining the relationship between its velocity of urbanization and the velocity of urban sustainability are based upon various perspectives. From an equal weight perspective (of the triple bottom line of sustainability components, namely environmental, social, and economic) and a pro-economic perspective, in which the urbanization of Baguio City has been moving toward a “sustainable urbanization.” However, from the environmental and eco-sustainable human development perspectives, indicated that it has been moving toward an “unsustainable urbanization.”
Wherein more development threatens it stability to the conservation of ecology and the is environment. Land uses are in minimal spaces to sustain houses, buildings, and other interest for investors; hence, the population of Baguio City increase from past years that creating massive needs for shelter. Poverty in the city are seems to be in minimal but for long terms these might increase. And as observants some street dweller in the Street of Baguio are not or originally from the place or nearby. In which this implicates that migrant have reach city for better living.
