The long-awaited marketplace near the Railway Station in Tramore looks likely to become a reality.
This comes as a private planning application seeks permission for four temporary food kiosks in the plot of land beside the former station house.
Local councillors had originally urged Waterford Council to purchase the plot of land with this use in mind.
"What we see here basically is unfortunately it's a case of 'you snooze, you lose' in relation to Waterford City and County Council.
"We weren't able to get this concept off the ground," Councillor Éamon Quinlan told WLR News.
"But thankfully, now that we've shown the private sector that this concept has worked in other areas, it appears that the private sector is leading the way on this and that they are going for a much more sophisticated offering in that area with this planning application."
A large canopy purchased by Waterford Council for the proposed marketplace may still be used as part of this development, if it gets the go-ahead.
Councillor Quinlan says it was bought some time ago but remains unused.
"Actually, I think this will enhance and perhaps drive on the council's plans," he said.
"The council had purchased a large-scale, strong canopy that was placed to the rear - there is a site owned by Waterford City and County Council to the rear of the railway station, which will be adjacent to this new development.
"If this new development goes ahead and has its planning permission, and becomes a reality, it would only lend strength to Waterford City and County Council creating an enclosed area beside it."
Having a casual food scene in and around the railway station has been an aspiration of Waterford City and County Council for some years now, with the concept having proved popular in Waterford City and in places like O'Connell Street in Dungarvan.
"They're very much in trend at the moment," Councillor Quinlan continued, "and Waterford Council has tried to get something going there several times.
"Unfortunately, due to one reason or another, it never came to fruition."
The company who has submitted the planning application is 'The Terraces' and a decision is due to be delivered by May of this year.
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