Halton Housing Trust is to spend £40m over five years on the next phase of its long-term renewal programme for neighbourhoods in Runcorn and Widnes.
The money will be drawn down from an existing facility with Lloyds Banking Group. The trust said it had consulted residents and improvements were likely to include the redesigning of open spaces and communal areas, better use of disused garage sites and the provision of new play areas and allotments.
Nick Atkin, chief executive, said: "Building upon the success of the £85m investment in our homes, the next stage of our work is focused on transforming the lives of those living in our neighbourhoods.
"We have already made a significant difference to the lives of thousands of people and what happens next will be based on delivering what our customers tell us they would like to see us deliver."
The work is part of Halton Housing Trust's £262m neighbourhood investment framework.
The trust, established five years ago with 6,000 properties, is close to finishing its first new-build development, a £2.3m project at Clarke Gardens to deliver 12 apartments and six bungalows.