Urban regeneration has emerged as a new paradigm of urban development today. In this situation, awareness has increased that urban regeneration should be pursued in connection with culture and art (Evans, 2009). Urban transformation has continued through internal restructuring in an expanded or reduced scale by economic and social changes (Garcia, 2004). Initially, diverse public/private parties initiated urban image improvement and strong brand creation through leading developmental strategies in order to attract floating enterprises, residents and tourists. At this time, states built culture-centered urban regeneration strategies in relation to urban development and regeneration such as large-scale culture and art facility establishment or large event hosting (Couch, 1990). However, in the modern society, with the elevated awareness on environment, the focus has shifted from development towards service industry and tourist industry in urban. In this sense, cultural policies are deemed to be responsible for the expanded idea of urban development considering diverse aspects from physical and economic aspects, to social significance, sustainability and to culture and art (Bianchini & Parkinson, 1993; Garcia, 2004).