This chapter discusses the development of the Phoenix project, a large brownfield redevelopment programme in the city of Dortmund. This project consists of the transformation of two large and connected industrial sites of the iron and steel industry, that were closed to society for one and half centuries, into a location for the post-industrial 'New Dortmund' that combines modern industries with housing and leisure. The chapter analyses the structure of Dortmund across a number of dimensions or 'capitals' for sustainable competitiveness. It sketches the city-wide economic vision and strategy, and discusses the role of the Phoenix project in this wider strategy. The chapter explores Phoenix in depth, namely its start-up history, vision and content, the key features and enablers that 'made it happen' and a number of preliminary results of the project. However, there are also remaining challenges, especially countering the socio-economic legacy of the de-industralisation in the form of structural unemployment and social polarisation.