A HUGE development of homes and businesses that could attract millions of pounds of investment to Hyndburn is back on the cards.

The Clayton Triangle project, first launched in 2006, is finally expected to be submitted for planning perm-ission next month.

Bosses hope millions of pounds may be invested in Clayton-le-Moors as part of a major redevelopment of canalside land.

A ‘masterplan’ for the site and artist’s impressions have been drawn up by Blackburn-based architects Campbell Driver Partnership.

The Clayton Triangle site runs parallel to the Leeds and Liverpool Canal from Enfield Wharf to the Corn Mill.

Hyndburn Council, British Waterways and at least one private landowner are involved.

Hyndburn Council said there had been delays due to the credit crunch but hoped the site would mow attract major public and private spending.

At this stage there is no developer on board with the project.

The plans for the site are mainly residential with proposals for 95 three and four-bedroomed homes as well as 24 apartments, nine live/ work units.

A spokesman for Campbell Driver Partnership said: “The ‘Clayton Triangle’ is a masterplan looking to transform a largely derelict site into a thriving community.

"With over 180 units and landscaped public realm, this scheme is seen as key to the regeneration of the area.”

Ward councillor Nick Collingridge 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.”

Coun Peter Britcliffe 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 would ensure the scheme made significant use of the canalside location, benefiting both the canal itself and by creating conditions to improve the lives of local residents.