Revitalization Efforts near Downtown: Safe to Invest there?

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Hi BP Community! As the title questions, do you all think it is safe or advisable to begin to (or plan to) invest in areas near the planned revitalization efforts near downtown Memphis? 

I'm pretty familiar with the intricacies of how quickly areas change from good to questionable to "war zones". Even with that in mind, I wonder if the coming revitalization could be a prime opportunity to invest now before prices increase? At the same time, I have no idea how long gentrification takes or if it's much too early to look at these areas, which as is, are difficult. By the way, I am a new investor so if there is anything I'm missing or oversimplifying, I welcome the correction!