Tokyo's Chuo Ward and local merchants have unveiled their plan to create a new marketplace near the site of the soon-to-be-relocated Tsukiji fish market.

The aging fish market is set to be transferred to the Toyosu district in Koto Ward by the end of fiscal 2014. Locals in Chuo Ward are hoping the new facilities will inherit the dynamic image and bustle of the nation's largest, busiest and best-known fish and vegetable bazaar.

"We will proceed with preparations steadily and in time for the relocation," Chuo Ward Mayor Yoshihide Yada said during a meeting of the group Wednesday, while expressing hope that the new stores will continue to attract shoppers and tourists alike to the area.