Bagdat Avenue is a major pedestrian-shopping axis of Istanbul Asian Side, and also a residential area with a unique culture shaped by the long-term residents thereof. Law on Transformation of Areas under Disaster Risk (no:6306) enacted in 2012, triggered intense plot-based transformation activities in Bagdat Avenue, where transformation decisions are taken by the majority of votes of property owners on a plot basis. The purpose of this study is to determine, in the context of themes and codes, the motivation underlying the strong-willed attitude of residents who refuse renewal of their building despite appealing economic advantages. First, literature was reviewed to determine user's expectations of plot-based urban transformation, followed by an in-depth interview made with 19 property owners living in Kuzu Street of Saskinbakkal, Bagdat Avenue, who refused transformation. In conclusion, "sense of belonging, housing satisfaction and issue of trust” codes were defined regarding motivations of stakeholders who refused urban transformation.