This article presents a case study of an elementary school situated within a prestigious school district that has undergone rapid demographic change in recent years. The authors explore how the school has accommodated growing numbers of linguistically and culturally diverse students while at the same time struggling to maintain district standards. In order to further our understanding of the process of subtractive schooling, a critique of an English-immersion program deemed "successful" is provided by examining the discourses that define what success means in an inclusive setting. The authors theorize the concept of "hegemonic multiculturalism" to explain the transitional nature of a school culture defined by dissonance between the ideology of multiculturalism and the school's pervasive assimilation agenda. Within this transitional space, success is defined quite narrowly in terms of immigrant students' level of assimilation, fluency in English, and performance on standardized tests. Although the school community claims to value bilingualism and student diversity, instructional practices inadvertently devalue these qualities in the name of equality for all. (Contains 3 endnotes.)