Urban regeneration has emerged as a tool for (re)planning of cities and towns around the world. It has over the years been applied in correcting urban dysfunctionalities such us urban decay, economic obsolescence as well as social deprivation. This work focuses on urban regeneration as an approach in slum transformation. In this work, 322 respondents making up the sample frame were systematically sampled from the Ashaiman slum settlement in Ghana. These respondents were made up of household heads. The various groups identified within the community were based on: places of origin; locations of residences; places of work; income levels; and employment statuses. It was found that, the tendency to support or oppose the implementation of urban regeneration had a significant relation with where a person belonged within the groups outlined above. The findings of this work are pivotal to any sustainable slum transformation in Ghana and beyond especially in African countries sharing similar traits because they inform that slum residents are open to accept a policy like UR which they expect to bring a lasting solution to their plight. The findings also provide answers as to how UR should be implemented in order to record a positive outcome.