Port Otago Ltd general manager marine Sean Bolt said he had been talking to the club, a consultant had drawn up some options, and berths could be expanded from about 40 to 100, depending on the mix of boat lengths.
"This is an idea whose time is approaching," Mr Bolt said about the possibility of an expanded marina.
He hoped to discuss the situation at a meeting of yacht club members within about a month. Later discussions with the Otago Regional Council and Dunedin City Council about this "potential solution" would also be needed.
If agreement could be reached among the four main parties this year, including about funding, it could take about two years to make an expanded marina a reality, he said.
A collaborative approach was needed, including agreement on what could be done, when and how it could be done, and how it would be funded, he said.
After being based in the Otago Harbour for more than 30 years, mariner Mark Hammond was "gutted" when his 40-tonne, 18m-long former expedition vessel Maia had to leave the Steamer Basin marina for the Lyttelton marina in March.
The Steamer Basin marina has fallen into disrepair and is to be demolished.
Mr Hammond, who still lives in Dunedin, was pleased about efforts to develop a modern marina, helping overcome what he has termed a "Third World" lack of facilities.
Given Port Otago’s mainly commercial focus, the harbour had fallen behind other main New Zealand harbours in its facilities for small recreational vessels, he has said.
Yacht club caretaker and manager Barry Gibbs said the club had few details of exactly what was proposed, but there was clearly a shortage of facilities and "any improvement has got to be good".