Exeter City Council has unveiled a new £300million plan which it hopes will finally transform a "tired and outdated" area of the city centre.
Last year a proposal to build a new leisure centre and bus station collapsed, leaving the future of the city in limbo.
But today the council has revealed a new blueprint including housing, offices, restaurants and shops, as well as the possibility of a new multi-use entertainment venue.
The cost of the new swimming pool on the site has already risen to nearly £50 million.
The council's chief executive says it must be built to inspire confidence for the rest of the development.