Neptune Developments has submitted a detailed planning application for the second and final phase of its £60m regeneration scheme at New Brighton.
The new phase will comprise of a six screen/1,000-seat digital cinema, a 66-bed budget hotel and a Morrisons supermarket as well as a number of restaurants and bars.
The original operator for the budget hotel, Premier Inn, has withdrawn from the project, however, a major budget hotel operator rival is in advanced talks with Neptune and an announcement is due shortly on its identity.
There will also be a large public area separating this from a crescent shaped second building fronting the existing Marine Lake.
The Western end of the site will see a new public lido and a car park providing 750 spaces to cater for the amount of visitors that the development is expected to encourage. There will also be a two-storey sailing school with its own purpose built pontoon.
With supermarket Morrisons and The Light Cinemas already signed up as tenants, the finished scheme is expected to boost the local economy by £21m per year.
Rob Mason, director of Neptune Developments, said: "We've already been able to announce that some big names will feature prominently in the new development, and we're expecting at least 70% of the available space to be signed up within the next few months."
The second phase of construction is expected to take approximately eighteen months, with completion due in 2011.
In the smaller first phase, the new Floral Pavilion Theatre was built by contractor Kier North West and designed by renowned Liverpool architect Ken Martin.
Neptune Developments did not name a contractor for the second phase of the scheme.