A planning application to redevelop a derelict former tannery has been submitted by the South West Regional Development Agency (RDA).
The site boasts a century of industrial architecture
The plans for Morlands near Glastonbury include a combined fire, police and ambulance station, offices, a training and education centre and shops.
Esther Scott, of the RDA, said: "If outline planning gets the thumbs up, it is likely some of the detailed planning applications for other parts of the site will be submitted by the end of 2004."
The RDA has invited people living nearby and businesses to a public exhibition to see what the planning application involves.
The exhibition will be at the old Morlands shop on 12 December and in Street Library and Glastonbury Town Hall on 13 December.
The two 19th Century buildings on the site of the disused tannery received listed status in August.