It includes a new festival square, new cycle ways, changes to the railway station area and top of Westborough, and improvements at Seamer station.
The masterplan, called Scarborough Blueprint 2021, sets out where the town will be in 15 years, with new homes, culture and creativity, a reimagined high street and inequalities tackled.
Scarborough Council says the blueprint builds on Scarborough’s rich culture and heritage, its connection with nature and the landscape, and the fact it is already a nationally recognised tourist destination.
It would see the economy refocussed, more resilient and prosperous with new creative and digital businesses flourishing with space to grow.
The aim is to increase the range of opportunities in Scarborough, and along the coast, by creating new activities, developing a thriving cultural scene, and exciting new uses for buildings like the famous Spa.
Connectivity – physically and digitally - would be vastly improved.
The blueprint, says the council, also recognises the climate emergency and includes measures to help ensure the council’s 2030 net zero carbon target is met.
Four key focus areas have been identified: Scarborough town centre, the coast and parkland to the west, North Bay and a ‘south Scarborough zone’ which includes Eastfield.
A list of potential regeneration projects would benefit each of the focus areas.
These include alterations to the area around the railway station and the top of Westborough and the creation of a festival square which could be home to a new Scarborough Fayre.
In North Bay, the masterplan would see natural assets being enhanced with greater emphasis on the family-friendly nature of the bay.
In the south area there would be major improvements to Seamer railway station and a focus on creating more opportunities for green construction skills.
Across all four areas, there would be 16km of new cycle ways and other infrastructure to make it easy to bike in and out of the town centre and key education and employment sites.
The new Scarborough blueprint sets out a timeline of works to deliver the overall vision through to 2035.
The money to pay for delivering the masterplan will come from the council’s existing resources, the recently announced Towns Deal funds and ‘Levelling Up’ and community renewal funds.
Cllr Steve Siddons, Leader of Scarborough Borough Council, said: “This blueprint sets out an exciting, innovative and ambitious vision for Scarborough.
“This is our opportunity to completely transform our town by the sea in just 15 years so it is bursting with energy, pride and huge potential.
“Our residents and businesses are at the heart of the plan, visitors will also benefit from the various projects we will invest in.
“As we emerge from the lockdown restrictions, this masterplan will be a shot in the arm for Scarborough as we do all we can to build back better from Covid-19.
“This blueprint gives developers the steer they need to see how Scarborough will grow and how they might invest and contribute to that vision.
“I look forward to bringing this to cabinet for consideration next week.”