This study examines the valuation practices and processes involved in the rapid transformation of centrally located industrial areas into residential spaces. These areas hold significant importance in urban life and contribute essential functions and values to cities and its occupants. However, as more industrial areas are being redeveloped, the risk of losing these valuable aspects are increasing. This study investigates the diverse valuation practices employed by different stakeholders using a case study of the ongoing planning process in Örnsberg industrial area, a small centrally located industrial and commercial zone in southern Stockholm. Qualitative methods were utilized to explore these valuation practices. These included document analysis and semi-structured interviews with local craftsmen, small-scale businesses, non-profit organisations and a city planner. The findings highlight the divergent ways in which Örnsberg is valued, influenced by individual experiences and interests of the stakeholders. Furthermore, it is concluded that formal valuation practices exert a stronger influence in the planning process. Ultimately, the values prioritized by the City of Stockholm in the planning process contribute to the establishment of a new order in Örnsberg, resulting in the displacement of current local occupants and the probable loss of social values.