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This paper investigates how state-sponsored “arts and cultural districts” and “creative placemaking” revitalization strategies affect urban neighborhoods, using the Station North Arts & Entertainment (A&E) District in Baltimore, Maryland (USA) as a case study. Through ethnographic participatory methods and 39 qualitative interviews, we studied the activities and attitudes of various stakeholders within Station North. We find that creative placemaking activities of the A&E District are largely a branding strategy and have little economic benefit for the neighborhood. The A&E District is not the economic driving force causing gentrification, but rather, it is a confluence of forces—particularly through public-private partnerships—driving up land values. The most influential large institutions in the neighborhood, such as community development corporations and universities, are “community minded” and “thoughtful” about “striking the balance” between revitalization and gentrification. However, many interviewees are critical of the undue influence leaders of these organizations have over development within the A&E District. The organizations that seek to retain and support artists in Station North through subsidies and grant programs are paradoxically sowing the seeds of the demise of an arts district with artists as residents. This study has wider implications for the urban revitalization strategies employed in similar postindustrial cities globally.