Gentrification does not benefit lower income earners and native residents in any long term / meaningful way. You can argue that building new high rises in the tenderloin will help meet market demand, but nobody can seriously argue that it's going to help the local homeless / underemployed population.

If this were true, San Francisco would be a shiny utopia at this point, but income disparity and hyper inflated cost of living have made it just miserable for most people except whatever CTO of the day is moving in.