Blackburn with Darwen Council is seeking feedback to inform a masterplan for the site of the former Darwen Moorland High School in Holden Fold.
The council said the derelict land in Holden Fold, and the surrounding area, could be transformed into a new neighbourhood with around 430 homes.
The proposals include investment in roads, money to expand primary school capacity and an upgrade for the Square Meadow sports facility. Outline plans would be taken through planning and sold on.
Cllr Phil Riley, executive member for regeneration at Blackburn with Darwen Council, said: “The land in Holden Fold has stood empty for some time now after the former school buildings had to be demolished due to arson.
“This is a chance to breathe new life into the whole area – creating a quality development of homes for residents in the town and surrounding areas. We’ll be putting it on show as part of a public consultation and are asking residents to come forward with their comments, ideas and suggestions.”
Riley added that the council is just one of the landowners of the site, which is bordered by Holden Fold, Roman Road and Polyphemus Woods.
He added: “Houses on the other new sites in Darwen are selling well. This is an opportunity to create another quality development in the town and this masterplan is key to delivering that.”
This site is one of five major housing allocations for Darwen in the Local Plan.
Exhibition boards outlining the masterplan can be viewed at Darwen Market from today until Monday 5 October, and can also be viewed and commented on online.