Many successful tourism projects have been implemented with strong government initiative, and the Sanshu Asuke Yashiki, a tourism facility in Asuke, Toyoda City, is one of these. Some projects have even attempted to mitigate the effects on them of drastic social changes. It is in this context that this paper was prepared. This paper presents the evaluation methodologies used in assessing the performance of tourism promotion projects, in this case Yashiki, and in designing the vision for its future direction. This paper covers the analysis of the past performance of Yashiki, the interrelationship of its problems, and alternative project scenarios, with the latter viewed from the perspectives of social acceptability, environmental soundness, and financial/economic viability. This paper advocates the application of a new evaluation methodology to promote a tourism-based regional development, with the active participation of the residents being the main stakeholder.