The process of the phenomena of urbanization within developing countries in Latin America, such as Nicaragua, has increased the appearance of urban informality in the socio-spatial structure. Moreover, the lack of a clear planning framework has led Nicaraguan cities such as Managua, to an urban structure, which is no longer related to its context. Thus, increasing social, urban and environmental vulnerability of the most susceptible part of the population. In Managua, the sectoral approach to spatial planning development is causing urban growth to be directed through market-based initiatives, as well as fragmented and punctual public interventions. It lacks an inclusion of spatialization of regulations as tools to begin with the process of inclusion and assessment of values; to avoid the continuing loss of identity and sense of place of the city. Managua seems to be a never-ending nest of problems and there is no clear starting point within the city’s development plans. That is why the approach of cultural heritage assets as the redevelopment strategy was taken forward, based on the hypothesis that if there is a functional recuperation of the Historical City Core by the recognition of its assets (cultural, spatial and social), the identity of the city can be restored as well as the activation of the city’s urban restructuring towards a more coherent urban form development. This resulted in the proposal of a new model of development that aims at integrated actions with a multi-dimensional, multi-actor and multi-scalar setting. The necessary outputs to reach this model are present within this thesis and range from an analytical framework, to vision and strategies to an operational framework. Overall, this thesis proposes to replace missing links with a flexible and dynamic frame that achieves integrated relations of systems and governance levels. The thesis finalizes with recommendations for further application possibilities as it is clear that this graduation project is an academic exercise and the implementation of this proposal needs coordinated policies to face complex changes and to respond to the need of sustainable development.