The sector of La Candelaria (Bogota D. C., Colombia) has once again become a place of residence and consumption for high-income groups that had abandoned the area in the mid-20th century due to multiple urban problems. This dynamics of relocation, known as gentrification in urban geography, is a trend previously observed in other cities and forms part of the global process of urbanization. The article provides a reading of that urban phenomenon in Bogota on the basis of the analysis of its causes and consequences.