In Nordic welfare states, progressive planning and housing policies have prevented the most severe forms of gentrification-led displacement. In this paper, we argue that eco-gentrification as a phenomenon is entering the Nordic countries. We illustrate this with a case study of the fast-growing, medium-sized Finnish city of Tampere, where the transformation of a former welfare city into a “sustainable city” is creating unintended gentrification. In the analysis, we identify three inner-city neighborhoods facing eco-gentrification where an increasing drive for urban densification has replaced the welfare state ethos of social equality. We name the types of eco-gentrification as retrofitting, remaking, and preserving. In the concluding part, we elaborate on the serious and multifaceted challenges of keeping welfare state ideals alive in times of green growth urbanism.