CHEPSTOW developer Broa-dhall has published a masterplan for the transformation of Clarence Corner at the southern entrance to Pontypool.
The plan is based on a development brief that was subject to consultation and approval in 2003.
It includes a mix of residential, commercial and leisure space, including new offices and a car park.
The masterplan is intended to complement the refurbishment of the Clarence Hotel.
It was recently presented to Pontypool and Torfaen councillors, landlords and tenants prior to submission for outline Planning permission.
Located alongside the A472 and adjoining the town centre, Clarence Corner is close to the new retail development at the top car park site. The council has identified it as an opportunity for a major expansion of the town centre.
Broadhall's Michael Davies said: "For many visitors to Pontypool Clarence Corner provides their first impression, and undoubtedly the area has been run down for some years.
"Developments elsewhere in the area indicate a new confidence in the town, and Broadhall is looking forward to working with Torfaen council to improve the gateway and create a high-quality and well-designed development to be proud of.
"Great care has been put into compiling the masterplan, including addressing current hot topics such as parking.
"We're excited at the opportunity of turning this into a reality."
Councillor Neil Lewis, Torfaen council's executive member for the environment, said: "This is an exciting time for Pontypool, which has recently seen the opening of the Crane Street and Tesco developments.
"Clarence Corner is the main entrance to the town so we're confident it can attract major new investment. This is an important step."
Andrew Gray, head of environmental regeneration at Torfaen council, said the plans for the 7.3 hectare site have been discussed with landowners and tenants in the area.
He said: "The Clarence Corner is the last piece of the jigsaw in Pontypool's regeneration."
Planning permission has to be obtained before any work begins. Developers may have to check the state of the ground before starting because the area contains the site of the former British Gas works.
The nearby former Clarence Hotel is currently undergoing a 2.5 million restoration by Eastern Valley Housing to transform it into flats, a conference centre and offices.
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