The development will stretch from Port Downie to the Falkirk Wheel

The British Waterways and Falkirk Council plan aims to create a 60-berth marina, new housing and leisure space at Tamfourhill, east of the wheel.

The development is expected to be completed over the next decade.

The local authority is spending �23m to get the area ready for development with �5m being spent on decontaminating land once used for heavy industry.

Planners hope the move will completely transform the area between the Union Inn at Port Downie and the Falkirk Wheel.

'Vibrant canal'

The development will include a new gateway access to the Falkirk Wheel from the east as well as new waterspace and mooring facilities.

The proposal also features the provision for woodland leisure activities, new homes and office space.

Councillor Craig Martin, convener of the authority's economic development committee said: "The Tamfourhill regeneration is an exciting partnership between Falkirk Council and British Waterways.

"We have taken the first steps in a development programme which could potentially bring new jobs to the area, create a vibrant canal side and a much needed multi-million pound investment into the Tamfourhill area."