Visitors are able to access the cell block of the prison during the event held until 7pm today where the masterplan for the future of the site is revealed.
City and Country, the developer, wants to provide around 210 homes on the site by converting some of the existing structures and constructing new multi-storey apartment buildings.
A formal planning application could be submitted as early as next month and if it is approved, work could begin in 2018. If that happens it would kick-start the regeneration of a key site in Gloucester which has been unused since the prison closed in 2013.
Richard Winsborough, head of planning at City and Country, said the prison plans are a catalyst for the regeneration of the wider area.
He said "We know when the application is submitted we will have talked to as many people as possible. It's a positive environment to be in.
"With everything that's going on in the area it's a very exciting time for this previously neglected part of the city."
The work would take between four to five years to complete, and the first 12 months would be spent demolishing unwanted structures within the prison. City and Country would then construct six storey apartment buildings on the western edge of the prison, along with a four-storey building in the centre of the site and three to four-storey buildings along the perimeter.
But City and Country have said affordable housing is unlikely to feature in the plans. Dozens of people attended the consultation event today to view the plans and some liked what they saw.
David Manning, from Brockworth, said: "I love the building, it's just a fantastic-looking place. "I like the plans - think they make good use of the space. But I'm not sure about the scale of the buildings facing the river. They seem quite tall.
"I'm glad to see they are listening to people and talking to people and explaining what's going on."
James Woodworth, who lives in Gloucester city centre, said: "I think it's a great location and I'm pleased they're doing something rather than levelling it and building a concrete and glass monstrosity.
"It looks very sympathetic. I would live there."