Roger De Haan, ex-Saga boss, has announced he is in negotiations with a developer to take on his large seafront regeneration project in Folkestone, Kent.

Haa’s proposal, based on a masterplan by Foster + Partners, has two main aims; to restore Folkestone to its beach resort days and to develop it as a university town by building a new campus for the University Centre Folkestone that will increase its capacity from 500 to 1,500. The new campus is scheduled to open in 2012.

“A thriving student life can make a town,” said Peter Bettley, spokesperson for Creative Foundations - De Haan’s charity set up to manage various regeneration projects in Folkestone. “Seaside universities can also be very successful, look at Bournemouth and Brighton it creates a social mix and employment.”

Other elements include a watersports centre, a new passenger terminal offering fast ferry service to Boulogne to compete with Dover and the Channel Tunnel, a costal path, a 200-berth marina and a variety of “low-risk” leisure activities like beach volleyball and tennis

Bettley says: “It could take 18-months before the project is comprehensive enough for a planning application and then further five-to-10 years to build.” Completion is expected by 2020.

The multi-million pound development will be funded in part by the sale of 1,600 luxury seafront homes. This element of the scheme will ensure the project meets the requirements of Kent County Council’s development framework, which make it mandatory that 35 acres of the site are used for residential development.

Elsewhere in Folkestone De Haan has invested £34m in the creation of a Creative Quarter. He has purchased 80 properties that range from two-up-two-down shops to large industrial and retail units, which the Creative Foundation is in the process of refurbishing to transform into shops, studios and living space for those in the creative industries.

By increasing the presence of artisans Bettley said it hopes to establish year round festivals like the Folkestone Sculpture Triennial which is opening this summer.

∑ De Haan’s project was delayed for 18 months due to negotiations with attractions operator Jimmy Godden, owner of Dreamland and a large part of the seafront site. Even though the projects masterplan was drawn up in 2005, it wasn’t until November 2006 that Godden finally agreed to sell the land. De Haan took control in March 2007, which enabled the project to move forward.