SAN DIEGO (CBS 8) - It could be the end of an era for Anthony's Fish Grotto on San Diego's waterfront. The Port of San Diego is set to vote Tuesday on finalists to replace the landmark restaurant.

The lease for Anthony's Fish Grotto will expire in 18-months, and the Port of San Diego is seeking two potential replacements.

According to the Port of San Diego, the two potential replacements would bring in twice the annual revenue that Anthony's currently does.

The owner of the Waterfront staple challenges that, and plans to make his case at Tuesday's Port meeting.

Craig Ghio is co-owner of Anthony's Fish Grotto, which was started by his grandmother in 1946. The landmark restaurant moved to the Embarcadero 50-years ago, attracting millions of loyal patrons over the years from literally all over the map.

"We don't consider ourselves out of the picture just yet. I would like to hit 100 (years) at some point. That would be nice," said Ghio.

Once Anthony's 52-year lease runs out in 2017, the Port of San Diego has recommended that one of two competitors replace the half-century institution at its Harbor Drive location.

Either a $15 million development by Sunroad Enterprises which would include Blue Point Coastal Cuisines, or The Brigantine's $15 million Portside Pier Proposal.

The owner of Anthony's said his family's restaurant has been a destination for decades, which last month alone, served 75,000 customers.

The idea of replacing Anthony's does not sit well with many patrons.

Ghio developed his own $12 million plan, strikingly similar to the competition's. The plan is to renovate and update Anthony's, a proposal the Port apparently passed on.

"To not be included is disrespectful," said Ghio.

The Port of San Diego's Board is set to vote Tuesday, August 11 on this plan to negotiate with both Sunroad and Brigantine. Only one of the two competitors will be selected by the end of the year.

Anthony's Fish Grotto's current lease will officially run out on the last day of January 2017.

Some of the footage in this video story was shot using a GoPro camera.