MILLIONS of pounds may be invested in an East Lancashire town as part of a major redevelopment of canalside land.
A design and architect firm has been appointed to produce a "masterplan" for the Clayton Triangle site in Clayton-le-Moors.
The masterplan may include residential and leisure use. Hyndburn Council planners have said that they are determined that the vacant land will have a "significant" use and residential and leisure uses are being considered.
Local councillor Nick Collingridge said the plan was good news for the area.
He said: "For so long Clayton has been deprived of large-scale investment. With this scheme hopefully we will see the resurgence of the town's fortunes."
Blackburn-based architect practice Campbell Driver Partnership will carry out the first stages of the planning process.
The Clayton Triangle site runs parallel to the Leeds and Liverpool Canal from Enfield Wharf to the Corn Mill. Hyndburn Council, along with British Waterways and landowner Gerry Holmes are involved.
The council's regeneration boss, Coun Tony Dobson said: "This is a wonderful opportunity for Clayton-le-Moors and Hyndburn.
"The scheme will be innovative, creative and bring a real sense of place to Hyndburn."
He said the planning process will ensure the scheme makes significant use of the canalside location, benefiting both the canal itself and by creating conditions to improve the lives of local residents.
He added: "Any develop-ment will ensure Clayton-le-Moors receives major public and private sector investment into the economy."
The planning and preparation is the first phase of a process expected to take at least six months which will culminate with the submission of a planning application to Hyndburn Council.
During the next six months, residents will be asked their views.
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