High-rise housing is a global phenomenon. In Toronto, the sheer number of tower blocks and declining conditions within them has pointed to the importance of redeveloping high-rises in order to improve their current performative capacity and secure their use for future generations. In addition, improving the public realm and social infrastructure in these communities has emerged as an important component of the redevelopment approach. Looking at the City of Toronto’s Tower Renewal program, the paper critically evaluates its environmental, economic and social/cultural objectives using Tower Renewal documents, local case studies and relevant literature. Analysis of program specifics leads to a greater understanding of the potential and prospects, as well as areas for improvement in tower redevelopment programs, the roles and collaborative relationships between participating parties, and how placemaking processes are and can be pursued and accommodated in redevelopment programs.