There's truth to what you're saying -- neighborhoods change -- but it's a matter of degrees. In Econ 101 it's called a "positive externality", a public good tha

There's truth to what you're saying -- neighborhoods change -- but it's a matter of degrees. In Econ 101 it's called a "positive externality", a public good that arises from economic activity but is not accounted for in private transactions. That's what neighborhoods like Venice have going on and it's a function of a lot of activity by artists, small businesses and rather humble folks, who all collectively benefit as a result. It is not being charged for; it relies on voluntary cultural contributions back to the community to sustain it. A relatively large, well-funded corporation swooping in to soak up those benefits, without really offering in-kind cultural contributions, threatens to destroy that unique positive externality that Venice has.