But they still have a long way to go.
Wakatipu Community Maritime Preservation Society spokeswoman Jo Smith said the society needed to raise $702,000 to restore the old Frankton boat shed and ticket office.
It had already secured a grant of $102,000 from the Community Trust of Southland and $134,000 had been donated by the Wakatipu community, she said.
Applications for additional grants had been lodged with the Community Trust of Southland and the Central Lakes Trust.
The boatshed is located on the Frankton to Queenstown walkway on the southern end of the lake and has two slipways.
Built about 1870, the ticket office is listed as a grade 2 heritage building.
The boatshed was built about 1934 and the ticket office was moved to the site from the corner of Hay and Beech Sts in the late 1930s.
The society, which plans to place plaques around the site to provide visitors with information about the buildings, is seeking expressions of interest from those interested in setting up a cafe in the ticket office.
