Indian Head lighthouse, located at the entrance to Summerside Harbour, could enjoy a new life.

On Monday night, the city heard a presentation on how to restore and improve public access to the lighthouse from the Summerside Sustainable Tourism Initiative.

'Tourists, especially Americans, they love lighthouses.' - Arnold Croken, treasurer, Summerside Sustainable Tourism Initiative

The group, which is heading up the waterfront development plan, suggests water taxis could service the lighthouse and other parts of the waterfront.

The group's treasurer Arnold Croken said the lighthouse is an underutilized asset.

"The inbound tourists, especially Americans, they love lighthouses," said Croken.

"There's a pretty big movement afoot in the U.S. to access lighthouses and to experience those. So we think that it gives us the final piece of the product that we've been trying to put together to create a destination in Summerside."

The group says the project would take around five years at a price tag of slightly more than $798,000.

They are hoping on city support before approaching other funding sources.

They also hope to start the water taxi service this spring.

In 2013, the Indian Head lighthouse was one of 15 to receive a heritage designation from the province.