High rates of poverty and extreme poverty in Latin America and the world, as well as increased rates of inequality and precarious work, expressed the problems which, the last three decades, have been discussing possible ways out. Some organizations have proposed consolidating in the world and in Latin America, a public policy to overcome poverty through the creation of decent work as an effective means to achieve a decent life context. There has been a warning in academic and policy making environments throughout the continent which has generated a discussion of the effects of the economic development model and the real alternatives for countries to escape poverty. In the Colombian case, the effort to overcome poverty and unemployment, has been conditioned to the development of macroeconomic policies that do not yet meet the goals of eradicating poverty under the Millennium Development Goals. In the specific case of the city of Manizales, the Urban Renewal Macro project San Jose Commune, is an example of how public policy to overcome poverty is not aimed at creating decent jobs. Poor design and worse performance, on the contrary, has increased informal employment while it has further deepened poverty because of the negative impacts of these on the people and their livelihoods.