This paper revisits the data collected for the mid-term evaluation of the six Housing Action Trusts (HATs) to throw light on the theory of change embodied in this neighbourhood regeneration model. The analysis employs Ostrom's theoretical framework to understand the role that HAT residents played in the regeneration of their neighbourhoods and how specific structuring mechanisms helped to bring about change. The similarities and differences that have surfaced between the HATs and the New Deal for Community partnerships at their mid-point are compared. The analysis concludes that formal structures to empower residents are insufficient on their own and that empowerment comes through specific customised training for employment, decision-making rights and a culture of commitment from skilled support staff.