The Queens Project proposes restoring the 1936 ocean liner for voyages.

LONG BEACH – The historic Queen Mary has remained docked at the Port of Long Beach for nearly 40 years, but it just might head back out to sea as a working cruise ship, if a new group can convince locals that the plan is viable.

Queen Mary made its maiden voyage in 1936, but since 1967 it has been permanently docked in Long Beach Harbor, serving as a hotel and visitor attraction. The ship also houses several shops and restaurants.

The Queens Project, a Fountain Valley company, announced plans last month to restore the ship and operate it as a working passenger vessel. However, because of major deterioration that has occurred over the past four decades -- and the fact that all the ship’s propulsion equipment was removed and lower decks were gutted in the 1960s -- some observers have estimated that the necessary renovations could cost as much as $1.5 billion.

In order to realize its plans, the Queens Project must purchase the ship’s lease from Garrison Investment Group, which took over the lease on Jan. 28. Prior to that, the financially troubled Save the Queen organization held the ship’s lease.

Save the Queen won the lease with a $43 million offer in 2007, after the ship’s former operator, Queen’s Seaport Development Co., filed for bankruptcy. Save the Queen managing partner Jeff Klein announced plans for the waterfront land adjacent to the ship that included a theme resort with a marina and various entertainment, dining and retail attractions.

Garrison Investment Group now holds full control of the vessel/hotel operations and development rights to 55 acres of property next to the ship.

The Queens Project, with support from the Las Vegas-based Cairngorm Entertainment Group, is currently trying to obtain funding for the renovation plan. According to a report in the Long Beach Press Telegram, the group intends to tow the ship to San Francisco, where it would be drydocked and renovated -- and then would return to Long Beach for use as an ocean liner.

Long Beach City Council members contacted by The Log all either declined to comment on the plan or did not return e-mails by press time.