A debate is emerging over whether gentrification and urban redevelopment are temporary, ephemeral processes or only the beginning of a long-term restructuring of urban space. In order to assess the future of the inner city, it is necessary to understand the origins of the present redevelopment process, yet little or no theoretical work has been done. In fact, gentrification and urban redevelopment are the leading edge of a larger process of uneven development which is a specific process, rooted in the structure of the capitalist mode of production. According to this perspective, gentrification is only a small part of a restructuring of urban space which is, in turn, part of the wider economic restructuring necessitated by the present economic crisis.