There’s little doubt that the abatement played a major role in reversing that narrative of decline. As the years went on, the tax incentive has helped stoke one of longest, most intense construction booms in Philadelphia’s history. It turned Center City into a glittering island of wealth. Humble working-class neighborhoods, such as Fishtown and Graduate Hospital, underwent fairy-tale transformations, becoming some of the hottest zip codes in the region. As prices shot up, and the economics of construction changed, a lot of fine old churches and houses were reduced to teardowns. The abatement also subjected Philadelphia to a powerful force that was unimaginable to anyone living here in 1997: gentrification.