As Russia implements its national projects, the government will provide substantial support for the development of urban infrastructure. The problems facing Russian cities, particularly in the regions of the Far Eastern Federal District, can only be solved with funding from the federal budget. The practice of raising private capital for urban improvement projects and modernizing housing and utility infrastructure has gained popularity among businesses in recent years. More than 2,500 concession agreements have been signed in Russia to modernize utility facilities. Businesses have also become more involved in upgrading parks, squares, embankments, and even courtyards. Over the past two years, entrepreneurs have invested nearly RUB 2 billion in such sites as part of a project to improve the urban environment. However, these are still isolated examples. Systemically raising private investment is one of the key goals that will be addressed through Russia’s national projects. Only the joint efforts of government and business will make it possible to take an effective and comprehensive approach to developing the urban environment and infrastructure. How profitable could investment in the urban environment and public utilities be? How can we create mechanisms and conditions to further motivate investors to invest in urban infrastructure? Should investors be guided by people’s preferences when implementing their projects?