Education & Cities: let's weigh the factor

Let's keep this one simple: If our government(s) (and society) had the ability to raise the quality of education in our major cities to level of the better-to-best suburban schools, what effect, if any, would the change of that one variable have on our cities: would far more families choose to live there (in the more affordable neighborhoods), would there be other quality-of-life issues that would improve because of the efforts in education. In general, what would our cities by like if we made this one major change...based on the change itself??????????????>