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Less than a year after its inauguration, the Malecón Renovation Project competed against 16 other related architectural projects nationwide and was awarded as the "Best Urban Design Project" by the Bienal Nacional de Arquitectura Mexicana 2012, an important competition in Mexico.

Sixteen different projects were submitted in the "Urban Design" category, out of which three projects were declared finalists: Puerto Vallarta's Malecón, Cajititlán's Malecón and Parque Centenario Laguna de Chapulco, submitted by architects Gerardo Sánchez Sendra, Ricardo Agraz Orozco, and Mario Alberto Schejtnan, respectively. The top accolade went to Puerto Vallarta.

The award is presented by the Mexican Federation of Architects every two years to projects of outstanding architectural relevance. Being awarded as the best new design of a public space throughout Mexico, will increase the already strong appeal that Puerto Vallarta's Malecón has had for decades.