Almost 40 developers have expressed an interest in renovating the former Portsmouth Naval Shipyard prison. Today, the Navy is hosting an industry forum in Durham, N.H., to officially present the opportunity to those interested in the project.

The 265,000-square-foot prison hasn't been used in more than 30 years, but it housed tens of thousands of Marine and Navy prisoners between 1908 and 1974. Since then, it has been vacant.

The Navy hopes to sign a long-term lease with a developer who is willing to undertake a project that is compatible with the shipyard's mission. Possibilities include office space, laboratories, and a hotel and conference center.

The Navy, which is permitted to lease under-utilized buildings, began the process in February, sending more than 1,000 invitations to the forum to developers.

The Navy also sought proposals in the 1990s and got as far as executing a lease with New Hampshire developer Joseph Sawtelle. But Sawtelle died in 2000 and the plans unwound.