Cities in recent times suffer from deterioration, suburbanization and depopulation, although as the historically evolved townscapes, they bring economic, social and cultural assets. The reurbanization activates and renews the areas, which lost their functional and formal attractiveness and actuality. The public investments, which protect and capitalize the historical heritage of the cities are the main tool to implement this vector of development. This paper, on the example of analysis of selected group of public investments, which took place in a historic townscape of Szczecin, focuses on significance of the cultural and historical values and presents their catalytic effect on further city development.