A luxury housing development with 300 new homes could help transform a former Padiham industrial site.
Several hundred new family homes could be built on the old Baxi headquarters in Wyre Street.
Plans for the huge new housing estate would see new life breathed into the land which has stood empty for more than five years.
Blueprints show the development would include three and four bedroom detached properties and three-storey town houses built on the leafy estate.
The land stretches along the banks of the River Calder and would be surrounded by eight hectares of parkland.
Official plans for outline planning permission for the site have yet to be submitted to Burnley Council’s Development Control Committee.
But leading figures in the town have welcomed the news and hope they prove another big boost for town.
Architect Matthew Montague said: “It is a cracking site right next to the river.
“The plans are for three or four bedroom houses because they want families moving into the area.
“It is a big green open space and eight hectares has been retained as parkland.
“We are very excited about the prospect, the scheme has come together very well and we hope it is full steam ahead.”
Baxi bosses and town hall chiefs had been working to bring a new employer to the site.
But now attention has been turned to regenerating the land as an up-market residential development for hundreds of families.
Blueprints are set to be submitted for outline planning permission for the land following a public consultation which was held at the Padiham Town Team office on Monday.
The Baxi homes plans follows a proposed plan for 274 new homes in Hapton and a further 100 homes are under construction on the former Rileys site in Padiham.
Padiham town centre manager Tony Fitzgerald believes new houses could help boost the town.
He said: “Padiham is a great family-friendly place to bring children up so more family houses would be welcome in the community.
“We are seeing a great deal more confidence and investment coming into Padiham and across the borough as a whole.
“The borough was named the most enterprising area in the UK. It is seen as an area where people want to put down roots. If people think the jobs are here and the future prosperity is here then it all becomes a virtuous circle and property developers will be looking at sites to build houses to meet the demand.”