Abstract. The present study is aimed at supporting the concept and making the model of urban spatial development as a complex architectural town-building and socio-economic system, as well as developing tools for reaching agreed multi-criteria planning decisions in the interests of stakeholders. The study examines basic theories (such as pattern language and central places) and conceptual approaches to the formation of urban spaces of trade, recreational, healthcare, image, entertainment, environmental, and sports character. It reveals the possibility and substantiates the necessity of employing expert methods and methods of project management for analysing, generalising, and modelling of urban civic space planning. In addition, there search substantiates conceptual principles, sets out general requirements, and highlights the main tasks of decision-making planning. Furthermore, a multi-criteria optimization model has been built to plan urban spaces in conditions of contradictory interests of stakeholders, under limited resources and in complete in formation. The implementation of the model is to increase the validity of planning decisions and, as a result, lead to higher standards of living due to expansion of existing and diversification of potential functions of urban public spaces. For the evaluation of architectural urban building, economic, social, cultural-monumental, and ecological results, the study lays down criteria depending on the extent the plan of urban public space development is put into action.The method of successive concessions has been shown as an efficient tool for reaching agreed co-created planning decisions by stakeholders. The provided basic model of reaching optimum planning decisions satisfying certain criteria contains restrictions on potential urban spatial development, as well as on the sequence in which interconnected development projects are carried out, and on the balance between supply and demand for services (functions) of urban public spaces. The model, which has been modified by the method of successive concessions for achieving agreed planning decisions in the interests of stakeholders, is based on establishing a dominant optimization criterion, on expert justifying of allowable optimality losses against initial planning decisions per criterion at each stage of subsequent calculations, and on reaching a consensuson a final decision. Keywords: public space, a planning decision, spatial development, evaluation criteria, development potential, a model, interests of stakeholders, a co-creation method. JEL Classification I00, L51, L83, Z10 Formulas: 16; fig.: 2; tabl.: 2; bibl.: 23.