Developers are today submitting plans for a £175 million project to transform a Devonshire marina, which include the building of a five-star hotel and conference centre.
The final proposals, which have been the result of four years of consultation, will be put forward to South Hams Council for the development of Noss Marina and the former Philip and Son shipyard in Dartmouth, according to the Herald Express.
Developers plan to build £12 million worth of affordable housing, 137 private homes and a Marine Academy, plus double the number of berths at the marina, as well as creating a conference centre and offices.
Stephen Comer, director of Noss Marina, the company behind the development, told the newspaper that the plans signify a "brighter future" for what he described as an "iconic site".
Builders could start work as early as the summer of 2010, since the council is expected to go through the application before the end of the year.
The government recently granted £962,000 worth of funding for the development of Portsmouth's Treagolds Centre, which includes building conference and meeting space.