City of Wolverhampton Council is working with the Canal & River Trust, Homes and Communities Agency (HCA), Network Rail, and the West Midlands Combined Authority in the Canalside Delivery Partnership to develop the city centre's canalside area.
Canalside lies just minutes away from the £132 million transport Interchange, with the majority of sites in the ownership of the partners.
As part of the scheme, a city centre living proposition for more than 600 new homes is this week being showcased to investors and developers at the international property forum in France.
Other ideas for Canalside include an anchor leisure scheme clustered around existing historic buildings, which could include restaurants and a micro brewery.
Creative workspaces and a marina development are also being considered, and LED and feature lighting around the canals and tunnels is being progressed.
City of Wolverhampton Council Deputy Leader and Cabinet Member for City Housing and Assets, Councillor Peter Bilson, said: "Canalside is a large and exciting opportunity that will require determined and skilful leadership to realise the opportunity.
"The new image gives us a glimpse of how spectacular this area of the city could look.
"The partnership is working together to bring about a nationally significant development at this wonderful heritage location."
Cheryl Blount-Powell, Senior Development Manager Midlands and North West, Canal & River Trust, added: "We strongly believe that waterways have an integral role to play in helping people to lead happier, healthier lives.
"By combining our in-house waterside regeneration and development skills with those of our consultants we form a really effective partnership, and Wolverhampton's Canalside certainly has a very exciting future ahead."
- released: Thursday 16 March, 2017