If urbanisation does not degrade the habitat, then biodiversity will not be affected. However, urbanisation always changes habitat. The kinds of species and their abundances will change after urbanization, but some wildlife will remain from the previous community. Urban environments also encourage other kinds of organisms by providing habitats that were not present before. And urban environments are sometimes recolonized by species that were originally lost :)
For an overview, I'd recommend this recent piece in Bioscience, "Biodiversity in the City" – Article Biodiversity in the City: Fundamental Questions for Understa...
The notion of assemblage seems to emerge as a key…