I agree, though the outcome of the gentrification process can still vary. Starbucks and chain restaurants definitely aren't the only possible outcome. Look at the left bank of Paris, for instance. It's a boutique dream. There's something lost, no doubt, in all the wealth. It's hard to imagine a penniless artist catching pigeons in the luxembourg gardens for dinner. But it is an exceedingly pleasant place to go for a walk, look in shop windows, and have a cup of coffee.

I remember an essay (linked to by David Brooks in the NYTimes) about the gentrification of the upper west side in New York. You might be interested in taking a look...

http://www.commentarymagazine.com/article/the-upper-west-sid...