In this paper, we aim to understand how long-term state neglect of public infrastructure coexists with a renewed emphasis on profit-driven infrastructure development in urban contexts. We focus on Exarcheia, an Athens neighbourhood known for its radical character, where a lack of public infrastructure investment aligns with plans for new transport infrastructure and urban regeneration. Using a participatory action research approach and engaging in collective discussions with grassroots organisations opposing these plans, we argue that prolonged austerity following the 2008 economic crisis has redefined state-funded public infrastructures, aligning them more closely with the speculative interests of real estate, commercial, and infrastructure capital. The interplay of austerity infrastructure, gentrification, and spatial violence manifests as a form of slow urbicide, paving the way for revanchist urban regeneration that prioritises the commercial exploitation of urban space at the expense of the historical, political, and cultural identities of affected neighbourhoods.