Urban renewal is imperative due to growing urbanization (i.e., population migration into cities), requiring acceptable planning to meet peoples' housing needs and playing a key role in highlighting and satisfying societies' needs. Complex urban renewal decisions encompass environmental degradation, poverty, inequality, and inaccessibility to services. Decision makers must meet on-going challenges by transforming urban spaces so that they satisfy all constraints while satisfying residents' needs. A holistic view of urban renewal facilitates efficient strategies for meeting economic, social, and environmental obligations. Multicriteria methodology may ideally be used to develop a complete, transparent, and realistic model that identifies planning factors best resolving urban renewal efforts. Therefore, we rely on cognitive mapping, the decision-making trial and evaluation laboratory technique, and neutrosophic logic, applied by a panel of experts with experience in urban renewal planning in two group work meetings. The results were analyzed and validated by an independent specialist in this field. The contributions and limitations of this methodological framework were also examined.