Artist's impressions of 15 high quality townhouses for the Watergate car park site were revealed, along with proposals to retain and increase car parking spaces.
Cllr Goral said: "Town centre living helps create life and activity, increasing footfall and supporting the local economy.
"This project gives us the opportunity to provide a high-quality housing development without losing valuable parking spaces.
"High streets are changing and there is a pressing need to adapt our town centres. We are determined to ensure that Grantham moves forward offering a mix of modern living with access to all amenities."
Cllr Goral said proposals were at a very early stage and extensive consultation will take place with residents, businesses and users of the car park.
"It is important that we engage with people about our proposals," she said. "We have some fantastic plans for Grantham town centre, but there will inevitably be some disruption as these improvements are brought forward.
"We are in discussion with St Wulfram's Church to provide alternative parking arrangements through its development plans."
Plans for the Watergate site come just a week after the council made major announcements about new multi-million-pound leisure centres across the district, including a high-quality indoor facility in Grantham town centre.
Cllr Goral added: "Growth and growing the economy remain our top priorities and I believe they are the most important factors in helping Grantham realise its potential.
"That is why we are investing heavily to stimulate growth, including our new five-screen cinema which will open later this year, to make the town one of the finest places to live, work and visit."
Cllr Helen Goral, SKDC Cabinet Member for Growth, pictured in front of new signage at Watergate Car Park in Grantham.
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