'Inspiring' was the word used by judges to describe the transformation of Gloucester Docks and the development of the Quays area.
They were the winners in the Area Based Regeneration category at the annual Waterways Renaissance Awards.
Run by the Canal and River Trust the competition celebrates the achievements that benefit canals and rivers across the country.
The competition entry charts the change of the area from largely derelict Victorian warehouses to their conversions into flats, offices, shops and restaurants. It outlines the opening of the Quays, the transformation of the public open space and its use as a regular festival venue – drawing crowds of up to 100,000.
The judges' comments said: "This is an inspiring example of sustained brownfield development and how large waterfront land holdings can bring vitality back into an area."
Council Leader, Paul James, added: "This is a wonderful award to win and recognises the huge amount of thought, planning and investment that has gone into making this area a success and ensuring that it complements the City Centre.
" This has all been achieved against the backdrop of a tough economic climate and is a just reward for the hard work of everyone involved."