This diploma thesis explores the Greek planning tradition and practice and its capacity to address the real urgencies of the urban environment and deliver long-term benefits to society and the economy. An overview of recent regeneration proposals is presented in order to investigate the reasons why planning in Greece is said to have weak influence. The evidence presented is essentially reinforced by the extensive study of an on-going regeneration project that takes place in the city centre of Athens: the case study of Panepistimiou Street. The so-called “university” street-one of the major traffic axes of Athens- is currently planned to be transformed into a large pedestrian avenue with public transportation flows. The case study is evaluated in order to understand the “how” and the “what” of the urban proposal: What is the vision that is leading the project of urban transformation and what are the tools that are used to implement the project? Finally, what effect do these interventions have on the urban environment of the city centre? Following this research, the thesis focuses on the construction of alternative ways to intervene in the city through the tool of strategic spatial planning. The aim is to explore the tool, its definition, origin and main principles, and introduce four values that guide the proposal for the area. These are the qualities of a visionary, relational, integrative and action-oriented plan. In such a framework, Panepistimiou becomes the testbed for a coherent and coordinated process of urban regeneration. A new vision for the area is suggested but also a set of actors, processes and institutional provisions is employed. The thesis concludes with a reflection and evaluation of the proposed process. How is it different from the existing project approach and what broader transformation is suggested for the way 21st century urbanists plan and intervene to the city? In the context of the Greek planning system, what institutional provisions are needed to be added for strategic interventions to take place in the future?