Beijing's "street life" under siege

Across Beijing's historic alleyways known as hutongs, construction workers are knocking down local restaurants and bars to make way for new, bigger developments. The historic alleyways are seeing more and more corporate ventures moving in. This is apparently to restore the city to a type of grandeur, but many residents say it is invading their lives and that the "soul" of their community is being lost.

Discussion: 
Describe your local area. Is there are sense of community and "soul" where you live? Do Homework
Is there a lot of development currently happening in your town? If yes, describe the changes. Do Homework
Are there any positives that such development can bring to a community? Give your opinion. Do Homework