Neil Smith argues that reurbanization is a precursor for gentrification--the driving out of the working class from the urban center. Urban regeneration is often carried out through publicly subsidized real estate projects that attract new settlers and vistors--typically those of greater means than existing residents.
While gentrification certainly has perverse effects, the return of the middle class to the urban center has many benefits. The literature on sustainability suggests that we should welcome reurbanization with open arms. It is not clear whether Smith believes these programs can produce successful outcomes and minimize the gentrification effect.
The challenge is to accommodate a certain degree of neighborhood regeneration, while preserving affordability for the residents at risk of being displaced. In the past, urban redevelopment has often had perverse results. The challenge for today's planners is to guide today's "urban renaissance" without repeating the mistakes of the past.