Irvine Bay Regeneration Company (IBRC) has unveiled a £60m ($93m) scheme to regenerate the 12-acre site around Irvine Harbour in Scotland, UK.
The scheme received first-stage planning permission from North Ayrshire Council and is awaiting the Scottish Government's approval.
Detailed planning permission will be submitted shortly and final stage council consent could be given this year, with construction expected to begin next year.
The plan will include transforming the waterfront with 360 houses, 30,000ft² of retail space, restaurants and a hotel over the next ten years.
Currently the site houses car parks and waste ground that will be demolished under long-term plans.
For the last two years the IBRC has been working with the local community to develop the scheme.
The IBRC is a partnership of North Ayrshire Council, the Scottish Government and Scottish Enterprise.
Property developer Urban Splash secured the contract to develop the area in 2008.