The urban design framework (UDF), which was unanimously backed by Warwickshire County Council last month, will see the town transformed over the next 20 years.
The UDF features infrastructure improvements such as expanded rail links with the West Country and upgrading gateway areas to offer a sense of arrival.
Further plans include improving the connection between the town and the River Avon, with an emphasis on pedestrian use, as well as ensuring adequate affordable housing supply and expanding the canal quarter in the west of the town.
The framework was prepared by Urban Practitioners and Allies and Morrison Architects, following their appointment by the county council, Advantage West Midlands and Stratford-on-Avon District Council. It was adopted by the district as supplementary planning guidance in July.
District council strategic director Trevor Askew said: "Stratford seems to be seen as a place you go to stay for one or two nights at the most. The proposals aim to create more for families, accepting that the Shakespeare theatres are not to the taste of everyone."
Askew explained that action to take the plan forward is at an early stage. However, the consortium is working with the local government project delivery specialist 4ps to realise the plans, he added.