North Vancouver's waterfront is set to undergo a redesign — the city is partnering with a developer to give the shipyards a new look.

"We are going to change an old industrial shipyard building area wasteland into a great people orientated dynamic place," said Darrell Mussatto, mayor of North Vancouver. 

The plan — which has been in the works for years —  will be equipped with restaurants, shops, a boutique hotel, underground parking, an outdoor skating rink in the winter and a water park in the summer. 

Shipyards property

The property on North Vancouver's waterfront a little east of Lonsdale Quay is set for significant redevelopment. (Rafferty Baker/CBC)

"It's going to be a great place for people to gather all year-round," he said, "That can be the new gathering spot not just for the north shore, but be one of the better ones for the lower mainland," he said. 

Quay Property Management Corporation will fund the $35 million project and will lease the land from the City of North Vancouver. The city will pay $5 million for the remediation of the site.

North Vancouver Exterior Shipyards to Waterfront Development

The redevelopment will include shops, restaurants, a public stage, underground parking, a skating rink in winter and a water play zone for the summer months.

Mussatto says the redevelopment isn't going to take away from the iconic area. On the contrary, he says it will add to it.

"By removing toxic soils that are full of carbons and heavy metals and taking them away from the site and remediation elsewhere, you will see an enhancement in natural areas."

The project is expected by to be completed by 2018 with remediation expected to start in the next few months. 

Shipyards pieces

Parts of an old machine shop that was disassembled on the property sit underneath tarps. Many of the original pieces will be used to build the new Shipyard development. (Rafferty Baker/CBC)

With files from the CBC's The Early Edition and Bal Brach

To hear the full story listen to the audio labelled: North Vancouver Shipyards undergoing massive redevelopment