The Crown has signed an agreement to ensure the heritage of the historic Te Motu Kairangi or Watts Peninsula near Wellington is protected and preserved.
Treaty Negotiations Minister Chris Finlayson, the Port Nicholson Block Settlement and the City Council signed a Memorandum of Understanding in Maupuia today.
Since the Defence Force, which owned it since 1885, decided to stop using it in 2008, the question of what will happen to Te Motu Kairangi has been one of much interest.
It covers about 76 hectares and is a place of historical significance, as it contains significant sites from different periods in the country's history.
The Memorandum of Understanding set out the relationship between the three parties, which includes the guiding principles for the future of the whenua or land.
Mr Finlayson said work was already underway to start the project that would outline the vision and goals for the peninsula.