Plans to reinvigorate and transform Wasaga Beach have taken the next step.

The town has announced Fram-Slokker, the same company that developed the shipyards in Collingwood, as the preferred developer for the project. 

The vision includes a new arena and library in the heart of a downtown filled with buildings that mix businesses with residential units.

While there's a lot of support around town, some people who live nearby got together on Tuesday to discuss their concerns about holding onto their land when the work begins.

“What’s going to happen?” asked resident James O’Brien. “If they buy my property are they just going to take it away from me? If so where am I going to go? “

“There is tons of room here to build a downtown without pushing long term residents out,” says Wendy Fox.

Town officials say expropriation would only be used as a last resort.

“It’s not where we want to go, the goal is to find a win, win with property owners that will be impacted and try and find a mutual agreement,” says Andrew McNeill, director of economic development.

Town officials say they are still in the early stages of the process and they will be focusing their efforts with property owners along Main Street over the next 10 weeks.