Over €12.8 million could be spent to regenerate part of Valencia's seaside district, El Cabanyal, marking a change of policy for an historically important part of the city.
Confirmed by the Valencia City Council at the end of last year, the new proposals focus on "regenerating and renovating" old buildings and public spaces where possible, rather than demolishing them, as previous plans had suggested.
The district originally housed rows of thatched fisherman's cabins along the seafront and was declared a protected historical zone by Spain's national government in 1993.
Many of the charming old buildings have led a fascinating life but have since been neglected, leading to much speculation and controversy over the area's future.
Proposals to knock down old buildings to make room for new developments were opposed by local residents and others seeking to conserve the cultural and historical heritage of the zone.
Having beautiful old architecture and being so close to the city's urban beaches and marina, El Cabanyal is a natural tourist attraction for the city. Those working in tourism in Valencia broadly welcomed the new plans.