The biggest development project in Cornwall set to transform Hayle

• Watch Marina Jenkins' report

One of the largest building projects in the South West is underway in Hayle.

North Quay will soon have 500 properties, two cinemas, restaurants, shops, an art gallery and better infrastructure for the fishing community.

Hayle's harbour was once a thriving industrial port but it has been derelict for decades. Over the years, the quayside has had many different owners try to develop the site. Corinthian Homes has, by far, got the furthest.

The huge project has been many years in the making. It has sparked controversy with residents in Hayle. The main concern is only 20% of the properties will be classed as affordable.

But the Mayor of Hayle, Steve Benney, says the town has been forgotten for too long and a development of this size is needed: "This will hopefully take Hayle into the 21st century.

"The town is full of niche little shops and businesses. So hopefully that will continue down onto North Quay and will create a vibrant town centre, for the continuation and success of Hayle."

Around 25 fishermen work out of Hayle's harbour. For years, the group has been very concerned any new development could push them away from their livelihoods.

Simon Wright, Chief Executive of Corinthian Homes, wants to support and expand the fishing fleet, not reduce it.

The harbour wall has been reinforced and many other improvements to the quayside have been promised. This has come as a relief to local fisherman Milky Veale.

"We've got facilities now, we didn't have facilities in the beginning," he said.

"They've given us this quay and a bit more. Which is fantastic. I think the fishing industry is pretty important for the town, for the county."

Some residents in Hayle do not particularly like the development. There is a worry local people will not be able to afford many of the properties. One property has just sold for £1.1million.

One resident said: "It's a really expensive development. It would be alright if local people could afford it."

Another added: "I'm very skeptical actually. I don't think that the traffic infrastructure can handle it."

But Simon Wright hopes to reassure people nearly 100 of the 500 homes are reserved for social housing. He said: "We have some of the more expensive homes, truthfully that enables us to be able to build the social side.

"So you have a complete mix. They are all different tenures. From rental, right through to shared ownership and shared equity. I'm adamant that those will go to local people."

The Hayle-based estate agents, Bradleys, is in charge of selling the properties. The team says it has never seen so many properties come on the market in Hayle at one time.

Sian Harvey-Wood, the New Homes Manager, said: "It's an offering that's never been seen before, not only in Hayle, but in West Cornwall.

"Every new home development is going to bring its fair level of controversy. And that's something that we do have to manage expectations on. Reassure local people that we're not taking the culture of the town away. We're hopefully adding to it."

North Quay hopes to boost Hayle's economy - not only by giving the community a thriving hub of restaurants and arts venues, but also to give tourists more of a reason to visit and spend money.

The development is yet to prove itself to many local people. The main concern is the luxury homes will lead to more Airbnb's and second home owners coming to the region.

But whichever way you look at it, the quayside is once again, becoming a destination for the first time in decades.