The events of 2020 have challenged the vitality and viability of our local places, main streets, shopping malls, community meeting places. The Covid-19 virus revealed how fragile these places were, how much we relied on them and how our approach to them needs to enable greater agility, adaptability and resilience. A new approach to local place and economic development is urgently needed. To address this challenge, a new framework is proposed, one with three overarching principles. It starts with place, understanding what is unique and vital about a community and how to nurture it. This is followed by regeneration, or regenerative development, an approach which explicitly looks at how to actively contribute to the aspects of a place that bring it to life. The last of the foundational principles is the concept of connectivity, which recommends building relationships between elements in a place, its people, its businesses and its ecosystems. Supporting these three are seven sub-principles. These provide the methods and concepts to support the development of what we call “the New Local,” a plan and a strategy to drive recovery from the impact of the Covid-19 virus while ensuring greater ability to respond to future stresses. These principles are: diversification, ownership, reinvestment, innovation, equity, democracy, and culture. The potency of this model it the interrelated and integrated nature of all the principles, it does not privilege economy, or nature, or place, but shows how they are all needed to create a resilient, adaptive local place. This chapter outlines each of the principles, applies them in a case study, and shows how they can inform the redesign of a community’s physical space and economy. The principles come from the combined experience of 80 years of practice in local economic development, placemaking and regenerative development.