It is understood that plans are in the pipeline that could see the demolition of a number of disused and derelict properties at the bottom of the town's Main Street - an area that has been an eyesore for many years.
The site, close to the Hillhead Road/Mill Road junction, could be completely redeveloped with new shops, office units and housing if the multi-million pound scheme gets the green light from planners.
A consortium of local landowners and developers is understood to be behind the ambitious project.
DUP alderman for the area, Paul Girvan, stressed that the plans haven't yet been finalised, but described the potential redevelopment of the lower end of the Main Street as "very exciting".
"There are exciting plans on the horizon for the foot of the town and I would like to see them come to fruition in the not too distant future. This area hasn't been very pleasing on the eye for some years now and it will be good to see it totally transformed," he said.
Alderman Girvan revealed that members of the consortium are hopeful of getting work on the redevelopment project started within the next two years.
Meanwhile, the Times understands that Planning Service has issued an approval recommendation for plans submitted by retail chain Asda for a new multi-million pound supermarket development on the former McClelland's Mart site.
The long-awaited scheme, which will be a major boost for the regeneration of the town centre's north end, is expected to officially get the green light when local councillors rubber stamp the approval decision at their planning meeting next week.
"It has been a long time coming, but hopefully now we'll see Ballyclare town centre coming back to life.
"This will help encourage more people to come to Ballyclare and shop in the town, and I welcome the planned redevelopments at the north end and at the foot of the town," alderman Girvan commented.