This paper reports on an on-going project on urban sustainability of the Valsequillo Lake in Puebla, Mexico and the Puerto Aura to be developed in this region. The purpose of the study is to build a simulation model to explore the dynamic interaction of the dimensions inherent in sustainable urban development. After a systematic review of Sustainable Urban Development (SUD) frameworks and tools used in various part of the world, the paper designs a model that considers the variables that intervene in SUD and proposes a System Dynamics model to simulate the dimensions that intervene in a sustainable development of this type and to anticipate the consequences of the decision making process. The structure and inter-relationships of the model sectors are described, the sustainability indicators in each sector explained; preliminary conclusions are drawn stating that a complete run of the model simulating a 20 years horizon in monthly periods is expected when the full data from the Puerto Aura master plan becomes available. Keywords: Sustainable development; urban planning; environmental assessment methods; system dynamics; simulation; multi-methodology