TAMPA, Fla., (970wfla.com) - First, there's Tampa Bay Lightning owner Jeff Vinik's billion dollar Channelside District development project.

Now, Port Tampa Bay has one in the planning stages.

Port executives have announced a $1.5 billion dollar proposal to redevelop 45 acres of port land along Channelside Drive north of the Florida Aquarium.

Plans include a city park, shopping area, marina and two 75-story residential towers.  The development would replace vacant lots, parking lots and one cruise ship terminal.

Port CEO Paul Anderson says the project would re-purpose port land and create a new stream of revenue, since the cruise ship industry won't be expanding in Tampa. That's because the port can't accommodate mega cruise ships, thanks to Sunshine Skyway bridge restrictions.

The project is in the planning stages and would include a land swap with the city of Tampa and move aquarium parking.

They also say this project would compliment "Vinikville".