The research project focused on studying the effectiveness of placemaking initiatives to promote social, physical and economic improvements. The case of study is the Central Park neighbourhood in Winnipeg, Manitoba, named after its major public space. The research indicated placemaking initiatives were capable of contributing to increasing safety, promoting community development and enhancing opportunities for social interaction. However, the capacity of placemaking to achieve positive improvements is directly determined by the involved stakeholders. The Central Park initiatives were successful due to the emphasis on engaging the residents and neighbourhood organizations. The residents were given the opportunity to meaningfully share their experience and aspirations with external stakeholders. The collaborative approach to placemaking contributed to the development of a sense of ownership. The residents saw their input reflected in the amenities and programming offered in Central Park. The planning profession can benefit from using placemaking practices to engage in comprehensive planning.