The significant boost for Ballymena was unveiled at a meeting of the town's Business Improvement District Board yesterday.
The plan contains proposals for a new riverfront development along the banks of the River Braid.
Other proposals include maintaining the town's position as one of Northern Ireland's top shopping destinations; diversifying the town centre's economic base by developing the office and leisure sectors; improving the quality of the town centre environment; the regeneration of the derelict area around Alexander Street; and the development of the area on Bridge Street opposite the Braid, including Ballymena Borough Council's £16 million redevelopment of the Town Hall.
Welcoming the release of the draft masterplan, Social Development Minister Margaret Ritchie said: "This is a major boost for the people of Ballymena. A key priority for me is setting out a powerful vision for urban regeneration and economic development across Northern Ireland. Ballymena is no exception.
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"For many years, the development of the town centre has been held back by the lack of an overall plan.
"I believe the draft masterplan provides us with an ambitious but realistic vision of how the town can make the best use of its assets and secure its ongoing success and prosperity.
"I am pleased that my Department has been able to make this happen by providing the funding that has allowed the masterplan to be prepared.
"The Paul Hogarth Company, the firm which has undertaken the work, has already put a lot of effort into consulting with local stakeholders to produce a plan which will address local needs and aspirations.
"I now want the wider public of Ballymena to have their say as well and I would encourage anyone with an interest in Ballymena's future to let us know what they think of the draft masterplan."
PJ McAvoy, Deputy Mayor of Ballymena and Chair of Ballymena Business Improvement District (BID), said: "We are delighted at the publication of this masterplan draft. Ballymena BID has been heavily involved in contributing to this document and I know the importance that this will have on shaping the future of our Town Centre."
Colin Neill, Ballymena Town Centre Manager said: "It's impossible to over estimate the significance of this masterplan. It will shape the future development of our Town Centre extensively and has been eagerly awaited for some time.
"The fact that many of the town's key stakeholders have contributed in this draft form will further enhance the authority of this document, and will endorse its eventual enactment. "
An exhibition of the proposals included in the draft masterplan will be on display in the Braid from Monday 25 August until Friday 3 October.
The draft masterplan will also be available for viewing on the DSD website soon.
(PR/JM)
