The council has created a 25-year vision for the Revoe area of Blackpool, to improve the neighbourhood and rejuvenate areas including Central Drive and Library Square.
The plan has been submitted by masterplanner GL Hearn to the council for sign-off.
Revoelution, a residents committee formed to drive regeneration in Revoe, supported the creation of the masterplan.
Improvements to existing housing stock and a boost to connectivity through the creation of green routes are among the proposals.
Tree planting and new paving are aimed at revamping the street scene along with the creation of spaces for community initiatives.
A study, conducted last year by the Ministery of Housing, Communities & Local Government, found that Central Drive was the second most deprived community in the country, based on factors including income, employment, crime, education, health, housing, and local environment.
The Government data showed that eight out of the top 10 most deprived areas in England were Blackpool neighbourhoods. The town is now subject to a number of regeneration proposals.
A £100m town centre regeneration plan for Blackpool is underway and other large-scale schemes are on the drawing board.
Work on the second phase of the mixed-use Talbot Gateway started this month, led by the council’s development partner Muse with Robertson Construction Group as the main contractor.
Earlier this year, the council sold a 17-acre plot of land at Blackpool Central to a joint venture between regeneration company Nikal and Media Invest Entertainment, enabling work to start on a £300m leisure masterplan for the area to include the UK’s first “flying theatre”, a virtual reality entertainment zone.