The problem is that the blight will ultimately spread, not be contained.
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Or bought up cheap by some Tony Rezko type real estate developer with a plan for redevelopment.
Ultimately, perhaps.
The pattern, though is that the residents of the affected area who had businesses will likely get out. In other areas this has been described as "white flight". As they move out, the community will spread, shopping in other areas because they drove the businesses out. If lawless behaviour persists, that will cause a shift in customer demographic for those stores, and ultimately in those neighborhoods.
Lather, rinse, repeat.
The pattern is well enough established.
At some future date, it is possible that a developer will move in, snap up enough cheap real estate (often in some urban renaissance sweetheart deal) to build an enclave or new neighborhood, but it will have its back to the people who destroyed the old one. That may or may not work out for the new residents, but the developer will make out.