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DEVELOPERS, investors and operators have shown "substantial interest" in the redevelopment of two major areas of Dover, according to the district council.
The identity of the preferred developer for the St James and York Street areas is expected to be announced within the next four months after a short-listed five companies present their proposals to the council by the end of March.
Nearly nine acres of land is involved in the two areas and the sites offer the potential for a mix of retail, leisure, residential, office and hotel uses in line with a planning brief and town centre strategy already agreed by the council.
"This is the most important development in Dover for more than 50 years," said Cllr Ben Bano, the council's cabinet member for regeneration.
"It is a once-in-a-lifetime opportunity to help move Dover into the 21st Century with a town centre that better meets the needs of business and aspirations of residents and visitors."
He said the council hoped to announce its decision on which scheme it prefers by the end of May.
The St James area stretches from Woolcomber Street through the Russell Street car park to the Market Square, and includes the County Hotel, Burlington House office block, the tourist information office and adjoining shops.
But it excludes all the properties in Castle Street, the P&O Stena Line building and BP service station at Russell Street and Townwall Street, as well as the empty shops in Townwall Street near the junction with Bench Street.
Many people have long been calling for the demolition of Burlington House.
Controversially, one proposal which could affect the Market Square is to construct a through-way which would link the St James and York Street areas by demolishing some of the shops beneath the flats.
The York Street site embraces most of the area bounded by Bench Street, Townwall Street, York Street and Queen Street, but not the buildings in Bench Street between Queen Street and Chapel Lane.
A hotel development is likely to be welcomed, probably facing York Street, but there could also be plans for small scale shops as well as offices.