Co-design and place-making have gained momentum as innovative approaches that guide inclusive and meaningful collaboration between diverse actors. Experts argue that participation in such processes can foster many social benefits for participants and their communities, ultimately enhancing well-being. This review takes stock of the literature to understand how and to what extent co-design and place-making can influence community social capital. The findings comprise an array of social capital outcomes attributed to co-design and place-making such as enhanced social networks, cohesion and efficacy. Key factors in building social capital included regular social activities and events, effective leadership and trust-building. Surprisingly, we found that an overwhelming number of cases do not report on project outcomes at all, particularly within the grey literature. Moving forward, we suggest that co-evaluation approaches should be embedded in both co-design and place-making to foster evidence reporting that aligns with place-based values, knowledges and perspectives. Further evidence on the impact of these initiatives could not only harness support from governments and investors but also enable sharing of success stories and lessons learnt between practitioners. Showcasing the value of co-design and place-making could ultimately inspire future initiatives that effectively support social capital and community well-being.