That is the verdict of existing business owners who are eagerly anticipating the completion of the as-yet unnamed four-storey retail and office development.
They expect new tenants will breathe new life into Searle and hope the lane will become a people-friendly, beautiful and landscaped location for residents and visitors.
Hell Queenstown managing director Paul Wilson said he hoped Searle Lane would be vibrant, well-lit and cobbled so it was inviting, as opposed to Cow Lane, which could be intimidating to patrons.
"When we took on the lease for this place in 2006, the lane was tucked away and even the locals didn't know where it was, but we knew the development was on the cards.
"I view the development as strategic, which will make the area one of the central zones for nightlife and entertainment.
I think it will become another Beach St or Mall, if not surpassing them in terms of what's on offer."Joe's Garage director Doug Jacques expanded his outdoor area from 11 to 24 seats, with the new block in mind.
"My vision of Searle Lane is pretty grand.
"There are some interesting people and outstanding bars here already between Night `n Day and Eichardts Hotel and I see a new opportunity for the lane with the new development," he said.
Good Bars operates Bardeax, Minibar and Barmuda along Searle Lane.
Commercial manager Nigel Kerr said it was going in the right direction by attracting a variety of establishments though the lane should still be accessible to delivery vehicles and taxis.
"You can't have bars alone, so food moving in is a good thing.
"With the new development, there's going to be a lot of office workers here, which will change the feeling during the day.
"It will be interesting to see how cluster points develop, which could create business opportunities."
The four-storey block, sandwiched between Church St and Searle Lane, was designed by +MAP Architects and will have 7400sq m of retail and office space.
It is being developed by a consortium of four Queenstown developers and investors headed by John Martin and John Guthrie, plus the GW Property Group from Sydney.
Bayleys commercial sales and leasing specialist Marty Barwood said retail space was earmarked for the ground and first floors.
"We're seeking expressions of interest and we'll be going through applications to get the right mix of tenants," Mr Barwood said.
"We've had strong interest on the site, including a couple from large national destination tenants.
We're also looking at the possibility of putting a hotel-type operation on the first, second and third floor and just one ground floor retail."
Leases would depend on the size of the premises but would be lower than some of the existing rents on Beach St and the Mall," he said.
"We're looking at fitting out in March next year."
The former Video Ezy store on Searle Lane is owned by Llerom Holdings Ltd and will also be transformed in a million-dollar refurbishment.
The project has resource consent and needs its building consent to start.
