Plans have been revealed to build a discount supermarket on the site of the former Hilderthorpe Road coach park.
The multi-million pound investment would also see shop units and food and drink outlets - which would create around 70 new jobs.
Fintry Estates has been chosen by the council as its preferred developer for the site and will put its plans on display to the public next week
Graham Wilson, of Fintry Estates, said: “The development represents an exciting opportunity to regenerate a currently under-utilised site in a gateway location on the approach to Bridlington town centre.
“It would enhance the existing range and choice of shopping provision serving local residents and help deliver additional spin-off trade for existing facilities in the centre.
"We look forward to working with the council to help deliver this important site.”
The developer says it is looking at a 2,000 sq m discount supermarket, four other smaller units for shops and restaurants and around 240 car parking spaces.
Fintry has appointed national planning and development consultancy Lichfields to manage the application and it has organised a public consultation on the proposals in Bridlington next week.
Jonathan Wallace, senior director at Lichfields, said: “The proposals have the potential to generate approximately 70 full-time equivalent jobs and would represent a significant investment in the local area.
“Such a development cannot realistically be accommodated in the town’s main retail area, given the lack of available sites.”
The 1.4 hectare Hilderthorpe Road site was deemed surplus to requirements by East Riding Council after it opened the new coach park at Limekiln Lane earlier this year.
The public exhibition is being held next Thursday, July 12, at Bridlington Spa, between 3pm and 6pm, and representatives of the developers will be there to answers questions.
Comments on the proposals must be made by Friday July 20.