Nowadays there is a pronounced interest in the need for sustainable and resilient infrastructure systems to address the challenges of future infrastructure development. This paper presents a three-objective optimization model for the investigation of various sustainable and resilient design alternatives for water distribution networks. Although optimal design of water distribution networks is a thoroughly studied area, most researchers focused on efficient algorithms to solve the complex design problem. Cost has predominantly been the objective in previous studies with few models also considering resilience or environmental impacts (CO2 emissions). This research combined all these parameters in a multi-objective model to obtain various sustainable and resilient design alternatives. The model is demonstrated on a three-loop benchmark network that was previously studied. The tradeoff between the objectives is further analyzed to identify the most beneficial solution from the pareto-optimal set of solutions. The dollar worth of enhancing resilience of the benchmark network by a unit is estimated to be in the range of $1.23 to $3.93 million, which translates to about 22% to 69% of the least possible life cycle cost. The results of this research reveal that resilience can be increased by paying a justifiable cost that will also compensate for CO2 emissions.