Urban regeneration projects are constituted and realized worldwide in large cities positively influencing specific degraded areas and their surroundings. Such projects can alter the traffic conditions, as well as the transportation systems of these areas by introducing multimodality and new modes of transportation in these areas. Assessing the impacts of large scale transportation projects under the urban regeneration concept is complex and demand a multimodal multiparameter analysis of both the existing and the anticipated conditions. The present work attempts a multifaceted approach for quantifying the impacts of the construction and operation of a large intercity bus terminal in the city of Athens, as a substitute of two existing terminals. The findings showed that the new project will significantly improve the traffic conditions in the areas around the old terminals. As far as the road network in the near and greater area of the new terminal, the additional traffic will slightly degrade traffic conditions, a problem which can be tackled by applying specific traffic management measures.