More than 370 homes in Anfield, previously earmarked for demolition have been saved.
The announcement follows months of consultation between residents and Liverpool City Council. Under the new plans, 374 properties will be kept and refurbished and a further 224 will be demolished.
Work is now underway to create "Anfield Village", which is expected to cost around £25m.
More top news
Gales and showers slowly easing. A little quieter for Wednesday - less cold, less windy but with more cloud
Sir Alex Ferguson said it was "nonsense" to suggest the correct processes were not followed prior to the appointment of David Moyes.
A court has heard a toddler from Blackpool died after drink methadone kept by her parents in Fruit Shoot soft drink bottles.