This project will see Irvine Harbourside and the Ardeer peninsula transformed to fulfil the potential of the coastal site.
It is hoped the ambitious plans will help attract tens of thousands extra visitors each year to North Ayrshire.
The initial proposals include the creation of a 'Maritime Mile' from Irvine train station to the beach; a new Maritime Museum attraction; redeveloping the former Big Idea building for commercial use; and building an all-weather barrier free play facility.
Welcoming the progress, Councillor Alex Gallagher, Cabinet Member for Economy, said: "This is the first step towards unlocking the amazing potential of the Great Harbour.
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"With the right mix of public and private investment, Irvine Harbourside and the Ardeer Peninsula can be a waterfront destination which not only attracts thousands of domestic visitors but will also have an appeal which goes beyond Scottish shores.
"And as each element of the Great Harbour falls into place, we see it becoming a must-visit destination for residents, visitors and investors.
"This first step has been made possible thanks to funding through Ayrshire Growth Deal – we hope and expect that £14million investment will be the catalyst for further funding to make this vision a reality.
"Now that we have a formal commitment from both us and NPL Group, it's all systems go."
The creation of the Great Harbour is one of the first projects which will be delivered through the £251 million Ayrshire Growth Deal, bringing economic, social and cultural benefits to both the harbour area and Ayrshire as a whole.
Phase One of the master planning works will consider the key factors required for the Great Harbour to become a successful destination and renowned waterfront location, and explore potential opportunities for the Ardeer Peninsula.
Phase two will advance to more technical and detailed work on the individual components of the plan.
(CM/JG)
