Not doing the development doesn't prevent the gentrification, though. It's not like desirable places to live suddenly become not-desirable because there's not e

Not doing the development doesn't prevent the gentrification, though. It's not like desirable places to live suddenly become not-desirable because there's not enough housing to go around. The rich people just outcompete the current residents for the existing housing stock. Unless housing supply actually keeps up with demand, someone's going to get squeezed out, and it'll almost invariably be whoever has the least money.