The privatization of the Center of Contemporary Art (CCA) area in Torun allows us to observe relatively new processes in Polish urban reality. The case shows how private-public partnership and place marketing are constructed and how partners combine spheres of culture and commerce to realize the investment. Private investor, using the cultural arguments, tries to create a shopping mall in the recreation area located next to the historical center of the city. The aim of the paper is to analyze the dynamics of the process of privatization and strategies used to privatize the public space in an attractive district of Torun.