Community economic development (CED) is a nebulous framework, both in theory and in practice. In this thesis, I examine key CED principles such as capacity building, entrepreneurialism, participation, partnership, and empowerment. These principles have theoretical underpinnings and practical implications, and knowledge creation and re-creation is exhibited by the organizations engaged in CED activities. To situate this study, I review literature on the complexity and evolving understandings of CED, followed by an exploration of the experiences of three community organizations in the Downtown Eastside neighbourhood of Vancouver, British Columbia. Using qualitative research techniques, I explore the Philippine Women Centre, Eastside Movement for Business and Economic Renewal Society, and the Potluck Café Society. A critical aspect of this study is the linkage between research, activism, and policy. This linkage challenges and influences the way CED discourse is embedded in the market economy. I conclude by elucidating recommendations for directions of CED governance.