Culture‐led projects have long been part of strategies to regenerate cities in advanced capitalist economies. In recent decades those projects also have become a focal point of urban development in post‐socialist cities. This study argues that an attempt to reimage(in)e the city of St Petersburg through its culture‐led flagship project, Mariinsky Theatre–2, has generated significant changes not only to its built fabric, but also to its social fabric. In the context of a post‐socialist city, this study examines how the urban space of the historical centre is being contested by its urban users, often on the basis of differences in perception, including the impacts of the culture‐led project on those perceptions. Civic awareness about social exclusion and inclusion in urban space is on the rise in this post‐socialist city.