The city of Piraeus is a center with particularities of a metropolitan center, the second most important metropolis within the Attica Region, besides Athens. It plays a major role in the life and economy of the country as an international portal of trade and commerce, having the largest port in Greece and one of the largest ports in Europe in terms of passenger traffic. Piraeus, in recent years, is gradually transformed into a contemporary commercial and maritime center with activities of hyperlocal impact while at the same time the city, behind the port, is being upgraded capitalising on its relationship with the coast, its industrial building reserve which remains in limbo, as well as its plurality of open public spaces and coastline fronts. Following a comprehensive analysis of the city's urban profile and the opportunities for urban development that open up ahead, an integrated strategy for urban development and a masterplan of projects for the city is proposed to attract and absorb an investment of over 100mil Euros from the European Cohesion Policy funds of the EU.