I'm no expert, but isn't that what typically happens with gentrification? Make the neighborhood more desirable by whatever means, more middle/upper-class people want to live there, local landlords raise the rent on existing units despite no actual change in their quality?

I've read about folks who worked for years to clean up their low-end neighborhoods, organize a neighborhood watch, drive out the dealers, etc, and as things improve the landlord jacks the rent up until they have to move to a slum area again. That's not about "luxury apartments" specifically, just about how manifestly screwed you are if you're not at least middle-class.