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Long before I was born, my town was a working class mill town, steel mill, tire factory, textile mills, etc. the steel mill is still there, but it's not a big feature of the town like it once was.
Even up into my lifetime, it was still essentially a working class town, nothing wrong with it, perfectly safe town, walkable, convenient to pretty much every major highway, public transportation, major shopping areas, etc. but it just had a little bit of a reputation for being kind of a slightly lower class town compared to a lot of its neighbors.
Within the last decade or so it's kind of exploded, property values have gone through the roof, lots of cool bars and restaurants, a whole bunch of new high rise apartment buildings, etc. It's attracted a lot of yuppies and priced a lot of the old families out of the area. It's also created some significant traffic and parking issues, with new apartments and such bringing in more people, and people wanting to come into town for the bars and restaurants and such the infrastructure just isn't there for that many cars.
I can't afford to live there anymore, but with my parents and relatives who still live there not getting any younger, sooner or later I should be able to snag up one of their houses, my sister already managed to snag my grandmother's house for herself.
Like all cases of gentrification it has its plusses and minuses. The bars and restaurants and other new businesses are pretty great. Getting priced out of the town my family has lived in for over a century kind of blows, even if I have a roadmap laid out in front of me to get back. Some of my favorite cheap dive bars are no longer very cheap or divey, which is a bummer. The traffic can be a nightmare when you have to deal with it. The character of the town has definitely changed, there's a definite difference in attitude between people who have deep roots there, own homes, and intend to spend the rest of their lives here and the newcomers, landlords, house flippers, renters, etc. who don't have any real attachment to the town.
The biggest problem I have with the gentrification here is that if all the housing is expensive, the city will suck because the people who work here can't live here. We still have all the little places for now, all the restaurants and coffee shops and the pay is not good here (for all jobs) compared to similar sized cities elsewhere. Like, do we really want cops to not live where they work? Do we expect people to commute to work at the fast food places and grocery stores, the bodegas and botanicas?