As an example: the neighborhood I've lived in for a decade used to be a relatively low-income neighborhood. Rents were low in the old buildings, most folks walked to their jobs in the medical area, and there was a cheap Shaws grocery store for food, as well as several fast food places and family-run storefronts. Public transit (light rail, buses, and commuter rail) was accessible close by.
Then a development company bought nearly all of the parcels along the main road and built a wall of mid-to-high-rises. Accordingly, all rent in the area went way up, forcing most of the lower-income folks out of even the older, shittier tenement buildings. A Target went in, and the Shaws rebranded as the more expensive Star Market (and will soon close so they can build a new Whole-Foods-type expensive megastore). All of the small storefronts closed, and now the area is nearly entirely high-end shopping outlets and expensive gastro-restaurants. They shut down the bus lines running through the neighborhood because all the rich people who moved in have cars (Porsches and Lambos now rev through the neighborhood at all hours) and bus ridership was down.
Where did all of the folks -- and their families -- previously able to afford the area go? To areas of Boston where the rent is still cheap. Many of these places are nowhere near good public transit (e.g. if someone moved from this area of Boston to Dorchester, then took transit to their same job, it would require 3-4 transfers on packed buses and trains). So now these people are forced to get a car as well.
The worst part of all of this is: who wins here? Not the people forced to leave their neighborhood, not the people who suddenly need to buy a car, not the people who can no longer afford to run a restaurant in the area... not even the rich people living in the expensive high-rises (or not living in -- many are vacant "investments" from overseas). The developers win. They pumped as much money as they could out of the neighborhood, and then moved on to their next target, leaving a less livable city in their wake.