Initial small-scale work, such as improving lighting and removing fences, will begin in three months, at which time contractors will be invited to tender for larger projects, such as a £25m college and a £5m health centre.
The project has been masterplanned by a team led by architectural practice Fluid, and including Arup and Levitt Bernstein.
The 10-year scheme, part of a £700m plan to transfer housing stock to Knowsley Housing Association, will eventually provide 400 homes.
Government agency New Deals for Communities is now looking for bids to flesh out the masterplan. Fluid confirmed it has been encouraged to tender again.
Steve McAdam, director of Fluid, said: "We've got to know and understand the area and its specific problems."
The practice says the area has some of the worst levels of deprivation in the UK.