This chapter provides a theoretical foundation for the idea of an aesthetic capital (in the sense of Bourdieu's sociological theory of capital) that is updated and diversified according to different urban situations. It explains the conditions for the emergence of an “aesthetic space” within ordinary urban practice. Ultimately, the existence of socially distributed aesthetic assets entails the possibility of more inclusive sensitive planning and more sensitive public policies. Three ways of using aesthetic capital in the ordinary course of urban practices—that is, profaning, using cunning, and ironizing—are central to the creation of an “aesthetic space” that varies from one actor to another. This aesthetic space can be defined as a potential space that arises when an aesthetic experience unfolds, and particularly when the capital behind an aesthetic judgement is actualized. The quality of contemporary urban spaces is defined by ethic and aesthetics of those who are competent to see and say—“professionals” or socio-professional categories who aspire to a certain aesthetic.