B. Privately funded redevelopment of existing commercial and residential buildings
Explanation:
The process of gentrification in U.S and Canada relate to how private own companies pull resources together for the redevelopment of an area into a taste that will conform to the middle class. It provides and avenue for those wealthy individuals to move to urban settlements which in return brings about transformation and redevelopment of the culture and property value of the area.
Investors in Tokyo the 1970's were purchasing available properties so as to bring about redevelopment in the areas. Areas like Ottawa, Montreal were also involve in this in the twenties.
The gentrification that took place in U.S started in Atalanta in the 1970's
