Much has been written concerning the decline and selective renewal of inner
-city neighbourhoods. The abandonment of these areas by significant institu
tions accelerated their decline and deprived them of both jobs and neighbor
hood identity. Using a participant observation approach, the development of
a street fair and the redevelopment of an inner-city slum are analyzed ove
r a twenty-two-year period (1978-1998). The study focuses on the role of th
is "ephemeral institution" (an art fair) on the renewal of the local neighb
orhood. This article also includes an analysis of the traveling community o
f artists who exhibit at the fair and their relationship with the host comm
unity.