The Banks Peninsula Community Board has requested Christchurch City Council approve the closure of the marina once existing licences expire or are terminated.
A date for a final council decision is still yet to be set.
Community board chairwoman Tori Peden said closure of the marina had been recommended as it was no longer fit for purpose and becoming “quite dangerous.”
“If the council kept it open it would become quite expensive to fix,” she said.
However, the board is hoping for at least one section of the marina to remain open for recreational purposes.
"In the long run we are wanting to keep one arm of the marina open so children can jump off it.
"Children in the area really like to jump off the end of it, that is apparently what Lyttelton teenagers have done for many, many years.”
Peden said the majority of boaties had already shifted from Magazine Bay to Te Ana Marina in Lyttelton.
“Most of them have already gone to Te Ana Marina, the council are just working with those still left at Magazine Bay, there are not many of them, to find the best solution.”
The Magazine Bay Marina was devastated in a brutal storm in the year 2000.
The marina disintegrated and 32 vessels berthed at it sunk after being struck by 130km/h winds.
The storm left 52 remnant piles in its wake which remained at the marina until they were removed by the city council last year.