The company behind a multimillion-pound waterfront development in Cornwall has gone into administration.
Administrators Moorfields Advisory said they had been appointed to oversee the North Quay development in Hayle.
The 100-acre development (40.4 hectares) is located within a World Heritage Site.
Councillor Peter Channon, a member of the town's harbour board, said a meeting with administrators had been "positive".
The BBC has contacted Corinthian Developments for comment.
In marketing material, the developers promised one, two and three-bedroom homes on the "unspoiled Cornish coast within an area awarded World Heritage Status".
Mr Channon said he was hopeful the development could enter a "turnaround period" now administrators had been appointed.
"It's probably the best thing that could have happened because now it will have to be finished off properly," he said.
"The important thing the locals will get an input into what goes on here."
'Operate as normal'
Arron Kendall, a partner at Moorfields Advisory, said it understood the "importance of the regeneration project to the residents of Hayle".
"The project team will therefore facilitate the delivery of the development in accordance with the planning consent," he said.
"The site which includes Hayle's operational harbour, lies within the Cornwall and West Devon Mining Landscape World Heritage Site, and is of significant importance to the local boating and fishing community.
"We want to provide reassurance that Hayle harbour will continue to operate as normal throughout this new phase."
Mr Channon said the site was privately owned, but the council had some say as the planning authority.
"I think this will concentrate people's minds that we've got to sort this out now," he said.
"I am confident this will go forward a better way than it has in the past."