Jersey's States will be asked to transfer a piece of publicly-owned land which could be developed into 100 flats near the new marina.
The transfer of land, worth about £10m, is part of an out of court settlement proposal.
For several years, Les Pas Holdings has been contesting ownership over a huge swathe of St Helier's foreshore.
The Policy and Resources Committee has now reached an out of court settlement - which needs States approval - with Les Pas.
Debate proposals
It includes giving Les Pas an area of land near the new marina.
Les Pas has been given approval, in principle, for 100 three-bedroom apartments with underground parking.
Policy and Resources vice-president, Senator Terry Le Sueur, said: "This solution proposes transferring land to the value of about £10m, which we believe, in relation to the sizeable alternative, is a proposal well worth considering."
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