Abstract
Current analysis of organized crime in the urban space focuses either on its social or spatial embeddedness. As an alternative, this article develops a socio-spatial perspective that recognizes and situates the lived experience of organized crime within urban transformation processes. I developed this perspective by building on ethnographic data about drug trafficking in Barcelona's El Raval, which I examine through the lens of the residents. I focus specifically on the interpretative framework of the “narco-especulació” which links the expansion of the narcopisos phenomenon to rampant speculative practices of real-estate-investors and city-led urban regeneration processes. I argue that this framework articulates a critique of urban governance, underscoring the dispossession of residents' social control, a weakened sense of place, and the fragmentation of community relationships. I also show how this framework can foster collective resistance strategies that express community agency against organized crime while disrupting the ongoing process of urban transformation and public management.