Plans to redevelop Kirkby town centre are expected to be approved this week by Knowsley Council.
The regeneration will include a revamped market area and a base for new retail stores.
The council hopes that this is the start of a long redevelopment plan which will include a new health centre, primary school, library and upgraded public transport facilities.
Initial plans for the area included a new stadium for Everton FC but the process was brought to a halt after the Government ruled that the plans were too big for a town of Kirkby’s size.
It is estimated that £300m will put into the area north east of Liverpool city centre as it undergoes a massive improvement over the next few years.
A Knowsley Council spokesperson said: “Bringing a range of public services and support under one roof is something that has worked so well in other parts of Knowsley that we are keen to bring the same ideas and benefits to Kirkby.”
Local community leaders hope that the new plans will allow Kirkby to become a destination for Merseyside shoppers.
Deputy Chief Executive of Knowsley Council, Mike Harden, said: “We believe there is an opportunity here to create a real community asset that will sit at the heart of the town centre and be used by a large number of local residents.”
A public consultation had run through to 13th August but now the plans will go in front of the council and are expected to be given a green light.
If the scheme is passed, work is scheduled to begin in January 2013 with the market opened and fully trading in the following summer.