A marina development is just one part of plans to revitalise the harbour and the whole town of Stranraer.
The council drew up its plans after Stena Line decided to move
Dumfries and Galloway Council and the local enterprise company have put together a series of projects to turn the area into a leisure destination.
The catalyst for the scheme was plans by ferry firm Stena Line to move its operations to Cairnryan leaving a 26 acre site.
The project aims to "transform the look of Stranraer and attract substantially higher numbers of visitors."
Business, housing, leisure and retail developments are also part of the proposal.
European funding of £600,000 towards the project was secured last year.
While proposals have also been unveiled for part of a £63m regionwide neighbourhood renewal project to take place in the town.
South central Stranraer and north west Dumfries will be the areas to benefit.
The blueprint for the future of the area has already attracted interest from a number of private investors.
Their investment is seen as vital in taking forward any work carried out by the council and enterprise company.
The casino bid was put together and succeeded in less than a year
The whole project has been given extra impetus by the lightning campaign to secure a casino licence for the town.
In March last year the council was still undecided between Gretna and Stranraer as potential bid locations.
The harbour town quickly emerged as the preferred option due to its potential to tap into the Northern Ireland market.
It was hoped to end its history as a "passing-through" place and turn it into a "stopping-off" point in its own right.
In January this year, as Glasgow missed out on its super-casino bid, Stranraer became the only Scottish town recommended to get a licence.
There still remain a number of obstacles to the project - most notably some strong local opposition.
However, the council has pledged to take the opinion of residents on board as it seeks to secure what could become the focal point of its leisure attractions.