The 'masterplan' from Ayr Renaissance, which includes transforming a neglected part of the town centre into a new major public realm, was prepared by architects Niall McLaughlin and Charles Jencks.
Features include regenerating land between the medieval "Auld Brig" and the Victorian "New Bridge", demolishing massive retail stores which have blocked access to the river since the 1960s, creating a new landscaped public realm alongside a festival building and a new waterfront.
In addition, office accommodation and housing will be developed, as well as space for niche retail units, cafes, restaurants and spaces for public engagement.
The plan also sets out a commitment to top quality design including the use of materials that relate to existing historic buildings and to an overall scale that respects the surrounding conservation area..
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Traditional vennels, in keeping with the existing town centre, will open up informal pedestrian connections throughout the Riverside Block site from all directions. The River Ayr Walk, which currently ends at the Auld Brig, could continue across the site, running along the river to the sea. The north shore is also part of the plan which will be re-landscaped as part of the framing of a new River Square including the stretch of river flanked by both bridges - with the potential to become the focal point for festivities and events.
Council Leader Bill McIntosh said: "I'm very proud we're now at the point when we will see the physical works to regenerate Ayr get underway. This has been a long time coming and marks the start of a whole new era for the town that will create a legacy for generations to come.
"The transformation of this riverside site and the opportunities to open up the river as a feature once again, will breathe new life into the town and will well and truly ensure Ayr is a true destination of choice for living, working and leisure."
James Knox, Chairman of Ayr Renaissance, added: "This decision marks a turning point in the fortunes of Ayr. Decades of blight will be swept away, opening up the river to the locals for the first time in generations.
"Our masterplan offers a humane and beautiful solution to the transformation of this key sight which will act as a magnet for visitors, office workers and inhabitants alike."
(LM/CD)
