One of the largest regeneration projects to be undertaken in Scotland has been given the go ahead.

Inverclyde Council's Planning Board has given permission, in principle, to the £180 million redevelopment of Inverclyde's historic James Watt Dock by urban regeneration company Riverside Inverclyde (ri) and Peel, one of the UK's leading property and transport companies.

It will see over a thousand homes built, around 12,000 square metres of retail, business and commercial floor space developed, a one hundred bed hotel constructed and a marina with associated workshop.

Councillor David Wilson who Chairs the Planning Board said: "This is a once-in a lifetime opportunity to completely transform the area and breathe new life into Inverclyde.

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"The plans are imaginative, ambitious and exciting and mark a huge step forward in our drive to make Inverclyde the perfect place to live and work. The new marina will also be the perfect setting for when Inverclyde hosts the Tall Ships Race in 2011."

Bill Nicol said: "I am delighted that Inverclyde Council has granted planning permission for the comprehensive redevelopment of James Watt Dock.

"Riverside Inverclyde has been working closely with Euan Jamieson, Development Director of Clydeport and Inverclyde Council over the last year to develop the plans.

"We have formed a new joint venture company to deliver the £180 million scheme and obtaining consent is a key milestone which will allow infrastructural and first phase works to commence within the next few weeks."

The proposals also include plans for a yacht club, a visitor centre associated with the Titan Crane and a mixed use for the historic Sugar Shed including retail, leisure and residential uses.

Regeneration Convener Councillor Jim Clocherty said: "This is possibly one of the most exciting projects for the future development of Inverclyde.

"Taking in the historic Sugar Sheds this will open up the Greenock Waterfront and will bring many new retail, leisure and residential features to this ambitious project. It is hoped that the 107 acre site could generate as many as 1,700 jobs."

(GK/BMCC)