A £6.3m plan has been approved to redevelop Helensburgh's historic town centre and West Bay esplanade.
Argyll and Bute Council said the move would see the area's largest town undergo "the most major improvement works it has seen for decades".
The tender process will now begin with work due to start in late February 2012 and finish in early May 2013.
The scheme is part of Argyll and Bute Council's £30m CHORD programme to regenerate key coastal towns.
Others in line for investment are Campbeltown, Oban, Rothesay and Dunoon.
Councillor Gary Mulvaney, board member of Helensburgh CHORD project, said: "This is arguably the most significant decision taken for Helensburgh since Argyll and Bute Council came into existence in 1996.
"Independent assessors have concluded that this project has the potential to support and grow the area's business base and act as a catalyst for attracting new investment, as well as helping to attract new residents and increase visitor numbers.
"I'm sure every town in the country would jump at such an opportunity, particularly in the current challenging economic climate."
When work starts in Helensburgh next year, contractors will upgrade the "streetscape" in the town centre's main shopping areas and outside the town's Central Station.
An open space, capable of hosting events, will be created in Colquhoun Square and visitor signage will be improved throughout the town.