It's currently home to an ugly cement batching factory but architects from across the globe are being invited to draw up designs to transform an island in the middle of the River Soar in Leicester.
The two acre Soar Island is in the middle of the city's rundown waterside area which the city council has recently announced 15 year, £26 million plans to regenerate.
The island is in a highly visible location where the river and the Grand Union Canal conerge.
The council has now teamed up with the Royal Institute of British Architects (RIBA) to launch an "international ideas competition" for the future use of the island.
RIBA has commenced the first round of an international competition for architects and landscape architects to share their ideas for the island.
All ideas submitted will be whittled down to a shortlist of five in March.
Firms making the shortlist will be awarded £5,000 to develop them further
Shortlisted architects will then be invited to develop their ideas before final judging in June with the winning design being awarded a further £5,000
Judges want designs to make island a more attractive visitor destination, where people can enjoy being by the river.
All shortlisted designs must also show how they would enhance the contribution Soar Island makes to the surrounding environment.
City mayor Sir Peter Soulsby said:
"Soar Island is at the very heart of that and is a really fascinating part of the city's riverside. It is a distinctive and highly visible site which has huge potential as a destination itself.
"By working with RIBA on this competition, we want to invite as wide a range of architects as possible to share their ideas for this unique part of Leicester's waterside."
Leicester City Council is currently consulting on draft planning guidance for the regeneration and development of waterside area.
To take part in the consultation, visit www.leicester.gov.uk/waterside
More details about the Soar Island competition can be found at www.ribacompetitions.com/soarisland