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The club has unveiled a model of its planned redevelopment on Otago Peninsula as it begins a fundraising drive to help pay for the project.
Club secretary Marty Brash told the Otago Daily Times the project was expected to cost ''closer to $1million'' by the time it was completed.
It would be built in stages, beginning with re-piling, a new jetty, wharf and changing rooms, which was expected to cost about $300,000, he said.
That would be followed by a new clubroom and meeting room, and, after the old building was then demolished, a new boat storage facility.
The development already had resource consent and was backed by a feasibility study, but the model would help the community understand what was planned, he said.
It could also help encourage potential donors to reach into their pockets, he hoped.
The club had launched a Givealittle fundraising page, but also planned to approach community funding organisations and potential corporate sponsors, he said.
''It would be just so good to open it and say, 'Here we are, 100 years later, with a brand new building'.''
The concept of an expanded facility in Broad Bay had been mooted since 2007, leading to a contentious plan for a wider redevelopment, costing $1.4 million, in 2010.
That plan did not win sufficient community support, but the latest revision to the plans were first unveiled in 2016 after non-notified resource consent was obtained.
The club's facilities were inadequate, he said, as the building lacked storage space or a shower, plus had ''diabolical'' stair access.
But it was hoped the new building would be more than just a boat club and the club already worked closely with Broad Bay School, teaching pupils sailing. Its facilities were used by Coastguard Dunedin.
He hoped a new and improved facility would cater for wider community interests.
The plans would be on show when the club hosted a community open day on October 14, and Dunedin Mayor Dave Cull had been invited to officially launch the fundraising drive, Mr Brash said.