Central city neighborhoods in the United States have long been plagued by concentrated poverty, racial segregation, and state-sanctioned disinvestment. In the last several decades, however, another important reality of residential stratification in urban America has emerged: namely, not all low-income neighborhoods stay that way. Modern trends are pointing, in part, to the reconstitution of urban space as a destination for affluent households, a repository for investment capital, and a battleground for the “right to the city” to be claimed and justified. These trends are codified in processes of gentrification that are reshaping the social, racial, economic, and institutional organization of many urban communities nationwide. However, the empirical research on how urban schooling figures into these processes is only beginning to emerge.