It has been called the "noblest quay in Europe" and has caught the imagination of travellers for centuries, but in more recent years Waterford's south quayside has assumed a weather-beaten look.
A transformation is under way, however. Gone are the unsightly transit sheds which, although once a vibrant sign of commercial activity, had fallen into disuse and been viewed as a blemish on the landscape.
They are being replaced by facilities such as a marina on Merchant's Quay which Waterford Harbour Commissioners are developing, and the Millennium Plaza, a Waterford Corporation project opposite Reginald's Tower.
Even the new Bus Eireann station, officially opened in June, has won plaudits for its aesthetically-pleasing design, although many people objected to its riverside location.
Other corporation developments of recent years, such as the marinas at the Tower Hotel end of the quay, upgraded lighting and provision of additional trees and flower beds, have helped to revitalise the area.
The impetus for much of the change was provided two years ago when the city hosted a stage of the Tour de France. Conscious that the eyes of the world would be on them, retailers on the south quays painted their buildings a variety of colours and suddenly the greyness and uniformity was a thing of the past.
The combined effect of the developments, according to the assistant town clerk, Mr Paddy Power, has been to make the quay a nicer place on which to live or work, "and it's certainly a nicer place to visit".
There is a view, however, that the quays continue to suffer from the lack of an overall vision for the area.
Ms Anne Harpur, a city-based architect, says the quay is the "very heart" of Waterford. "The quay is to Waterford what the Eiffel Tower is to Paris and what the Ramblas is to Barcelona. It's the city's shop window and it really has to dress that shop window well."
The fact that the quay is zoned for commercial development leaves it vulnerable to a threat of unsuitable developments in the future, she says.
A common criticism of the quayside, most of which is under the control of the Harbour Commissioners, is the extent to which car-parks continue to dominate. Even the marina at Merchants' Quay, which is nearing completion, is being developed in tandem with 125 new parking spaces.
Mr Power says the car-parks will continue to be needed for the foreseeable future, but in the long term alternatives to bringing so many cars into the city on a daily basis may have to be found.
"Many people come in and do their shopping and spend a couple of hours and they need to bring their cars. Some are coming in to work, however, and their cars are sitting there all day and in the long term we may have to look at car usage and how best to bring people in and out of the city."
Traffic congestion is already a serious problem in the city, particularly due to drainage work on the quays which has been going on for many months. Mr Power said it had been hoped to complete the work in time for the Waterford Festival of Light Opera at the end of next month, but it is now unlikely to be finished until October.
The Millennium Plaza, a £1.8 million public amenity space with facilities for music and theatre events, is also behind schedule but should be complete by the end of October. About half the funding has been provided by the national millennium committee.
Ms Harpur believes the plaza concept is "excellent" but one that could be extended to take in the whole, mile-long quayside. "I think Waterford has to make a bold, flamboyant statement, but unfortunately that's not in the nature of Waterford people. That's not meant as a criticism, but the quays are under threat and people don't realise it."