In 2007, the excavation of the M-30 ring road located in Madrid and the creation of a green corridor either side of the Manzanares river brought significant change to the metropolitan area. The corridor and linear park which it provided were designed to contribute to the regeneration of the fluvial ecosystem, establish links among residents on each side of the river and promote cultural and leisure activities. This paper provides a sustainability analysis of the excavation of the M-30 (involving the socio-economic and environmental impact) 14 years after its construction. In order to show such an impact, an analysis of the area both prior to the project and after completion, as well as a hypothetical solution that uses improved materials, has been performed. This entails use of the multi-criteria decision-making model named MIVES (initials in Spanish, modelo integrado de valor para una evaluación sostenible). The MIVES method is based on the application of value functions of sustainability indicators selected by socio-economic and environmental criteria, chosen by experts. Results from analysis showed that the excavation of the M-30 considerably improved the sustainability of the area (sustainable index 3.43 and 6.26 both before and after the excavation works). However, use of improved materials in contrast with the application of conventional materials slightly improved the sustainability of the work (Sustainability Index 6.26 and 6.74, respectively, of the conventional materials).