I agree with Nick that social media can promote awareness of change. I think it's important that people are aware change is actually happening. I also agree we need to keep working on creating housing options, good schools, etc. Social media can play a role in promoting a grassroots change. http://www.kwfdn.org/map/youth_voices/smart_networking/.
But I think social media can play a bigger role in making connections in the community and help serve as a catalyst for capital. For instance, there are people right now working on creating a space where businesses (small/large, start up or established) can go to find supportive services (consulting, skills training, financing, recruiting, etc.), and other information. The idea isn't to have a facebook-type space per se, but to have a profile and share ideas through the social media. We need to promote entrepreneurship in the region and provide business with tools to grow and create jobs.
If it helps people to connect to each other, then yes. Stronger connections & relationships among people living here is a huge part of positive transformation.
Its a strategy that will help, yes. However, positive change also requires a fresh look at the practices, systems, and policies that have hampered our rational growth and development for the past five decades.