A development brief is due to be published shortly offering the opportunity to build 650 homes and a new marina on 89 acres of surplus dockland in Barrow-in-Furness.
West Lakes Renaissance, the port's urban regeneration company, will officially launch the tender on October 25 with tours of the site and an event at Barrow Town Hall.
As well as the large residential element and 350-berth marina, the Marina Village project will include a hotel, retail, restaurants, bars and a sports ground.
The site is the centrepiece of The Waterfront Barrow-in-Furness Masterplan. Last month work began on the Waterfront Business Park, which will create 1m sq ft of business space over 15 years.
Peter Thompson, development manager for Marina Village at West Lakes Renaissance, said: "Marina Village is a rare and unique opportunity that will give a developer the chance to make a distinctive mark on the proud town of Barrow-in-Furness.
"Barrow is a place very much on the up – the town centre boasts a rich mix of retail, leisure and cultural activity in the town centre; there has been significant investment in our world-class naval industry; and considerable investment in off shore energy technology, all of which are combining to bring new prosperity and exciting employment opportunities.
"With this firm foundation there is added importance on the Marina Village, not just in terms of rejuvenating Barrow but also in providing high quality homes and facilities for new skilled workers who are being attracted to the town."
The marina will be the only one of its kind to offer 24-hour access between North Wales and The Clyde.
The closing date for expressions of interest is 12pm on Monday, 3 December.
Developer packs containing pre-qualification questionnaires will be available from Thursday, 25 October. For a pack contact Peter Thompson, West Lakes Renaissance, on 01228 840245; email firstname.lastname@example.org; or write to; Peter Thompson, Development Manager, West Lakes Renaissance, Phoenix Business Centre, Phoenix Road, Barrow-in-Furness, Cumbria, LA14 2UA
West Lakes Renaissance and Barrow Borough Council is working with partner agencies the North West Development Agency and English Partnerships on the Marina Village development.