Places for People has asked RIBA to find an architect who can help improve the landscape of the Broadfields and Astley Village areas of Chorley.
The scheme is one of 75 projects funded nationally by the Big Lottery Fund under its Green Spaces for People Portfolio.
Preston-based social housebuilder Places for People said it had "high aspirations for a design that is creative and practical, whilst respecting the character and context of the village."
The brief will include tackling two village ponds and surrounding areas, with new duck houses, seating and artwork.
The competition opened on 12 November and the submission deadline is 7 January 2009.