Bangor Marine was named as the developer for the mixed-use scheme earlier this week, which will see new life brought to Queen's Park with jobs, shops, offices and homes.
Councillor Karen Douglas, who has campaigned on the issue for a number of years, believes this development will re-energise Bangor town centre.
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She commented: "What has been announced will make a major difference to everyone in Bangor - increasing the café scene, residential and commercial opportunities whilst providing additional outdoor space to compliment to coastal walk and marina close by.
"It is an added bonus that a number of new jobs will be created, both in the construction and in the finalised offering.
"Over the past number of months Bangor's town centre has been hit with more and more negative headlines, as a number of premises have either closed or moved elsewhere. This news confirms that Bangor Town Centre still has a lot of offer and moves Queen's Parade to the heart of further development across the town."
(CM/MH)
