Video report by Otis Holmes
Islanders can have their say on plans to regenerate more than two acres of central St Helier on Broad Street.
If approved, more than 200 apartments and a hotel will be built.
The area will become known as Les Sablons, which means 'the wind blown sand' and will include the old harbour wall within the development.
A consultation for islanders to have their say is now open at the St Helier Town Hall until 5 March.
Developers say they want to create a vibrant place to visit, stay, eat, drink and shop. A new walkway and large landscaped courtyard, from Broad Street through to Commercial Street, will deliver a pedestrianised connection through from the centre of town to Liberty Wharf.
Plans include 238 residential 1, 2 and 3 bedroom apartments, meeting the demand for private first- time buyer accommodation.
There will be parking for 96 cars including accessible parking, car charging, and large areas dedicated for bicycles.
Les Sablons will also include approximately 10,000 sq ft of retail/commercial space with the potential to provide high quality food and beverage offers.
A Wilde Aparthotel by Staycity will be built within Les Sablons. It will provide 103 studios and apartments, attracting visitors to Jersey, supporting the Island's economy with potential visitor spending of around.
Brian McCarthy, Managing Director, Le Masurier, said: "Our Les Sablons development represents a significant investment in St Helier, helping with the regeneration of Broad Street, boosting tourism and business. In addition, the impressive new residential units will help to meet the chronic demand for housing that the Island has, and St Helier specifically."
Simon Crowcroft, Constable of St Helier said: "I welcome the proposals by Le Masurier to continue their commitment to the town of St Helier and the Island's tourism industry in the Les Sablons development. The new residents in the planned accommodation and the visitors staying in the new hotel rooms will have the heart of town on their doorstep, while the proposed hospitality venues will add to the rich and varied offer already provided by the town for all Islanders. It's also to be hoped that the development will lead to further improvements in the public realm of Broad Street and Charing Cross."
Amanda Burns, CEO, Visit Jersey, said: "We are delighted with the news of Le Masuriers plans for Les Sablons, which will provide a real boost for tourism, and shows confidence in the sector. As we look to promote the growth of Jersey's tourism industry year-round, accommodation like Les Sablons helps to improve productivity within the visitor economy and will appeal to the needs of our visitors."