The run-down “gateway to Worthing” could still get a nine-screen cinema in a £150 million revamp which would create more than 1,000 jobs.

Many feared the renaissance of Teville Gate had fallen victim to the recession after months of silence from the developers and borough council.

Now Hanson Capital Management, which owns the site, has announced two public exhibitions after revising its plans.

The scheme includes twin towers with 260 flats, a 100-bed hotel, an exhibition and conference centre, a supermarket, shops, restaurants, cafés and offices.

The most exciting part of the plan is the multiplex cinema, which Worthing has been crying out for since the Odeon cinema was demolished in the late 1980s.

However, plans for a tenpin bowling complex to replace ageing facilities below the seafront Grafton multi-storey car park have been dropped.

Hanson is expected to apply for planning permission at the end of the summer.

If the scheme is supported by councillors, demolition could start next spring, with the project finishing in 2014.

Spokesman Paul Dimoldenberg said: “We have a viable scheme, which can be funded, financed and delivered.

“We are confident we have a proposal that will be an economic success and a huge benefit to Worthing.

“It will bring new and welcome facilities to the town and its visitors.

“There is demand for a cinema and an operator who is keen for the opportunity.”

The site now includes Teville Gate House, former Government tax offices fronting Railway Approach.

James Appleton, Worthing Borough Council’s head of planning, said Hanson had been reviewing how they could take forward a scheme that was still viable.

He said: “It’s very positive, given the financial climate, that they are still actively pursuing the site.”

The exhibitions will take place in the foyer of the Town Hall in Chapel Road on Friday, from 9.30am to 5pm, and Saturday, from 10am to 1pm.

Members of the Hanson team will be available to explain the proposals and answer questions.