The vision for Blackfriars is "bold and transfomational" according to cities minister Greg Clark.
Plans for redevelopment at Blackfriars were shown to the Tory politician by Gloucester MP Richard Graham, the county and city councils, Gloucestershire LEP and Marketing Gloucester during a visit on Thursday.
Mr Graham said: "Gloucester Quays is growing fast. Visitor figures were over five million and up 70 per cent last year.
"The figure will grow when the city council's plans for the bus station and Kings Quarter come through soon.
"But the part of the city centre with wow potential is Blackfriars."
The master plan will go public in March after Mr Clark, the minister for Universities, Science and Cities, has decided whether to approve Gloucestershire LEP's growth bid.
The bid includes £4million for land preparation and road works in Blackfriars, which stretches from Commercial Road to Quay Street and up Ladybelle Street, including the prison site.
It is hoped that the Blackfriars scheme will provide 2,000 homes, many of which will be for University of Gloucestershire students.
There will also be a new justice centre.
Mr Graham said: "My aim is for Blackfriars to transform impressions of Gloucester.
"An attractive river walk, with bridges over to Alney Island, a slower one lane road, quality housing and good use of heritage buildings in the prison, especially the Gatehouse as cafe or bar, could indeed be transformational.
"I look forward to everyone having their say."
