The Shoreham Harbour Joint Action Plan could provide a boost for the area, transforming it into a vibrant, thriving neighbourhood.
Councillor Julie Cattell, lead member for planning at Brighton and Hove City Council, said: “This regeneration scheme will see the transformation of Shoreham Harbour by creating a vibrant, exciting hub for this popular but all too often neglected area.
“The scheme will also bring much-needed jobs, housing and office space to Shoreham, and shows what can be achieved when different local authorities work in partnership.”
The plans feature shops, restaurants, offices and cycle ways along with a new flood defence scheme.
With the area covering three districts it is among the biggest regeneration projects across the south east.
A proposal from Southern Housing Group has been unveiled for Free Wharf opposite the former Adur Civic Centre which could see 540 new homes built alongside new work places.
The overall scheme has been developed by Adur District Council, Brighton and Hove City Council and West Sussex County Council, and the Shoreham Port.
Adur leader Neil Parkin said the proposals could lead to a stunning revival for the area: “This has taken five years of hard work but I think it has been worth it.
”It sets out a blueprint for the harbour which will transform it into a destination of choice providing quality homes, jobs and a fantastic waterside environment.
“The joint efforts toward making this ambitious project sustainable will have a big impact on improving the entire area for the wider community”.
Port operations will be concentrated in the eastern end of the harbour, freeing land for redevelopment.
Emphasis has also been placed on enhancing the waterfront’s natural appeal as a watersport destination with plans to create a safe place to get active on the River Adur.
The regeneration plans will be available for public viewing in hard and digital copy between November 10 and December 22 at the Shoreham centre in Pond Road, Hove Town Hall, Norton Road and Bartholomew House in Brighton as well as libraries across the area.