The increasing importance of sustainability in urban and architectural design is strongly questioning the actual logic of built environment dispersion. In this context, the regeneration of urban wastelands constitutes an important potential for urban densification and city revitalization. The concrete integration of sustainability in this process requires an approach that is based on the optimization of multiple criteria. Numerous sources describe this objective in theoretical terms, but an operational assessment methodology that is adapted for this kind of project does not exist yet. The development of a specific indicator system, conceived as a tool supporting the decision making process and the monitoring of the project, is the main goal of the research presented in this paper.