AROUND 1,000 jobs could be created if developers move in and bring new life to the Daedalus waterfront area.
The Homes and Communities Agency announced it is looking for firms to work on the 57-acre enterprise zone in Lee-on-the-Solent.
The development at the area, known as Gosport Waterfront, could potentially lead to 1,000 jobs and turn it into a landmark.
Around 3,500 jobs are expected to be created at the enterprise zone over the next 18 years.
Councillor Mark Hook, leader of Gosport Borough Council said it is an exciting opportunity.
He said: ‘The waterfront presents an exciting opportunity for investment in new businesses, leisure and in new homes.
‘The investment from the government demonstrates its confidence in the potential of the waterfront to become a successful and vibrant area.
‘It will help to provide critical improvements needed to make progress in creating new commercial development and providing new local jobs.’
It comes after the government announced £7m will be ploughed into the site.
The cash will be spent on improving roads into the site.
The spine road will be built early next year and link the main entrance to the waterfront.
Under HCA plans the site will see a mixed development of homes, businesses, leisure, recreational and marine facilities.
Kevin Bourner, HCA head of area, said: ‘We want to hear from interested parties about how they can help partners achieve their ambitions for this part of the Solent Enterprise Zone and create a development that people can be proud of.’
Gary Jeffries, chairman of Solent Local Enterprise Partnership said: ‘It has been two decades since Lee residents have been able to access this area.
‘We want to bring the fences down and integrate the waterfront with the existing Lee community.’
Cllr Roy Perry, leader of Hampshire County Council, added: ‘This development opportunity has the potential to significantly reposition Gosport as a major destination on the south coast.
‘We are looking forward to working with the development partners to bring this exciting opportunity to fruition.’