Paris is a wealthy capital, currently considered as uniformly gentrified. There are however “small islands” of poverty in the city, including squats. Even though highly unsecure, these accommodations have a function of shelter: they are entries in the city for people in transitional phases. The destiny of squats is however closely related to institutional action, which oscillates between tolerance and severity. Local institutions are guided by a double requirement: to rehouse the most vulnerable inhabitants, but also to maintain the image of the “City of Light”.