My uneducated guess might be that the new developments add more density and thus lower land/rent prices overall. I am not sure about that though.
In my city as well, new development often come with affordability requirements for the exact reason of not displacing the existing community.
Adelaide, Australia has a really cool process for careful urban development. The city makes sure many existing buildings stay put and that new developments accommodate them in various ways. It specifically limits high rises, with the term mid-rise mixed use zoning being able to describe most of the dense areas.
The quip about coffee shops, creatives then professionals still rings true. But it stops short of high rises, and intentionally tries to mix all residents and wealth brackets.
In my city as well, new development often come with affordability requirements for the exact reason of not displacing the existing community.
Adelaide, Australia has a really cool process for careful urban development. The city makes sure many existing buildings stay put and that new developments accommodate them in various ways. It specifically limits high rises, with the term mid-rise mixed use zoning being able to describe most of the dense areas.
The quip about coffee shops, creatives then professionals still rings true. But it stops short of high rises, and intentionally tries to mix all residents and wealth brackets.