Currently, many urban planning projects have sought to apply sustainable strategies, with a special dedication to mobility. International guidelines indicate a focus on pedestrians and their integration with other active and collective transport modes, discouraging car use. Conceptions of transitoriented development (TOD) see cities strengthen walkable environments around public transport stations, which provide several benefits. Around the world, there has also been a shift from a commodity-based industrial economy to a knowledge-based economy. TOD environments are seen as having the potential to attract young workers, generating jobs in creative and knowledge economies. However, criticism arises regarding the possibility of real estate valuation and consequent gentrification with the consummation of these planning practices. Considering positive and negative aspects, the objective of this paper is to provide a brief literature review of the impacts of urban transformations dedicated to stimulating pedestrian mobility, with an emphasis on their interplay with the knowledge-based economy. There is no focus on methods, rather on concepts and interpretations regarding how processes occur in spatial dynamics. Reviewing case studies from the USA, Australia and China indicates correlation between the amenities characteristic of walkable environments and the creative and knowledge sectors. Negative effects for start-ups or smaller capital companies are apparently related to the cost of real estate. With the understanding that gentrification tends to be inherent to the dynamics of urban requalification, public policies and planning actions are suggested to manage gentrification and minimise its problems.