As bioeconomy strategies strive to integrate industrial sectors for achieving innovative materials alternative to the ones produced from non-renewable resources, the development of monitoring systems and tools to assess the implementation of such value chains is still a work in progress. This work intended to integrate the traditional life cycle assessment with a regionalized social life cycle assessment method to evaluate alternative production scenarios of a hybrid construction system with a wood-based lightweight concrete panel as a core component currently in its final stages of technical development. The life cycle impact assessment was carried out by comparing the relative advantages of two product development scenarios against the reference system’s results. The social life cycle assessment was carried out using the model “REgional SPecific cONtextualised Social life cycle Assessment” (RESPONSA), which was developed for assessing wood-based value chains under a regional scope. The results showed that both alternative scenarios present large advantages when compared to the reference system. Moreover, the implementation of the production value chain was found to imply positive socioeconomic advantages in the region, in particular, due to the quality of the jobs found in the organizations associated with the production system.