The Carnival Pool area has been earmarked for development in the Town Centre Masterplan due to its prime location, proximity to the train station and its current facilities, which include the swimming pool, bowling alley and nightclub.
Wokingham Borough Council is considering some housing as part of the plan, as well as creating a 'leisure hub' with pubs and restaurants, plus a new decked car park. It is anticipated that the pool would stay.
At its meeting last Thursday, its executive approved funding to hire consultants to look further into the possible redevelopment of the site.
After the meeting, Cllr Alistair Corrie, executive member for regeneration, said the council would seek the public's views on the scheme and ask them what they want to see on the site.
He said: "We've started the process to pull together ideas and ask questions about what is needed there.
"It's a blank canvas at the moment, but we welcome people's input about what they would like to see."
"This Carnival Pool site is part of the Town Centre Masterplan but is separate to the current town centre regeneration - although of course it will complement it."