The project is one of a number planned to revitalise the resort
The seaside resort Blackpool is set to undergo a £220m transformation with new hotels, shops and restaurants planned.
The Talbot Gateway project also includes new offices, a supermarket and cafes on a site near Blackpool North train station.
The work is set to start in 2011, creating hundreds of jobs.
It is hoped that the plans will give the resort a boost, after its failure to secure a super casino licence. An agreement is set to be signed later.
The Talbot Gateway agreement is to be signed by Blackpool Council and Muse Developments.
'Family-friendly'
Sir Howard Bernstein, chairman of ReBlackpool, the local regeneration body, said: "This project will transform a neglected and under-utilised area of the town into a welcoming family-friendly gateway, encouraging more people to visit, providing better services for local people and encouraging inward investment."
Work is expected to start after a period of local consultation and planning permission procedures.
The project is one of a number planned to revitalise Blackpool.
More than 9.8 million people visited the resort in 2007, compared to about 20 million a year in the 1980s.
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