Climate change scenarios predict alarming levels of water scarcity and damaging flood events worldwide. Considering hydric systems in integrated spatial planning will be crucial in mitigating, adapting, and reversing climate change’s catastrophic effects. This paper focuses on fluvial restoration as part of urban and territorial regulatory frameworks in the Andalién River and the city of Concepción in Chile. We consider three work scales: (i) basin, (ii) river reaches which focus on the city–river interplay, and (iii) site-specific, deepening the discussion around the last two. The objective is to elaborate an interdisciplinary dialogue between urban design, fluvial dynamics, and the Chilean regulatory framework where property rights play a predominant role in the management of natural resources (water and land). In this regard, the ‘New Latin American Constitutionalism’ offers concrete possibilities to operationalize an emerging paradigm that recognizes legal personhood for Nature. The incorporation of an ecological function to property rights emerges as a new way in which the principles of resilient urban development can be applied in order to combine river dynamics and urban growth.

Chile is currently facing a mega-drought, which is expected to lead to a significant increase in the water stress level. Social conflicts related to water use are linked to the effects of climate change and a governance system marked by the privatization of the natural resources of public interest. This study aims to analyze whether the current Chilean water governance scheme can adapt to the effects of climate change through a critical observation of the role of the River Vigilance Committees (RVCs; private user organizations exercising the public function of water management), from the perspective of Ostrom’s design principles for long-enduring Common-pool Resource (CPR) institutions. We analyze legal approaches, management mechanisms, and decision-making processes under the socio-climatic conditions that the country is currently facing. The results indicate that, with a few exceptions, the Chilean governance system does not allow RVCs to effectively incorporate the design principles—and, therefore, to achieve adaptation—due to dispersed functions, the exclusion of water users, and a lack of planning at different levels. We propose that water governance should consider the creation of River Basin Boards with broader planning powers, as well as the incorporation of different relevant stakeholders.