Tynwald has been briefed on proposals for Peel Inner Harbour.
In February, members will be asked to vote on the £3.1 million Department of Transport scheme.
The plans for a marina include 124 pontoon berths, a new office building and the resurfacing of the boat and car park.
According to Director of Harbours Captain Mike Brew, there are 118 people on the waiting list for a berth.
He says the area will be considerably improved (audio file attached):