Neighbours fear that a huge wall may go up around part of the port to ensure the privacy of a handful of wealthy people, creating a fortress-like billionaires' ghetto on their doorstep.
Protesters have already taken to Barceloneta's narrow streets, demanding that speculators be kept away from an area renowned for its cheap seafood restaurants and proximity to Barcelona's colourful urban beach.
"This will make it even more touristy and will see us expelled from our own barrio. We want it as it has always been, a real community of working-class people with roots right here," said Garcia.
Barceloneta was also a centre of popular culture, with the city's own version of the rumba dance emerging here.
The rundown area was partially redeveloped, along with the old port, for the 1992 Olympics, but it survived the gentrification of other parts of the old town. "The flats here are too small for the wealthier people from around Europe who have moved into other parts of the city," explained Garcia. "That has saved us so far, but now people are buying them up to rent out as holiday apartments."
The huge project comes as Barcelona seeks to shed its reputation for cheap, drunken, stag-party tourism, with a recent law cracking down on street prostitutes in places such as the Las Ramblas boulevard.
Abramovich is rumoured to be a shareholder in a Barcelona refit and repair yard, MB92, that lies beside the marina and also plans to expand its facilities for superyachts.
The Marina Port Vell is not the only modernisation project in town. Barcelona is also competing with Madrid for the Eurovegas complex, a collection of hotels, casinos and conference centres that the Las Vegas-based gambling billionaire Sheldon Adelson wants to build in Spain.
- Observer