Plans to redevelop Liverpool's former Garden Festival site were being announced on Thursday.
The festival hall is derelict
It is 20 years since the international festival took place, and the site has been left derelict and overgrown.
Haydock-based commercial developer Langtree has teamed up with the David McLean Group to restore what it calls a "jewel in the city's crown".
Langtree paid owners Planestation £1.5m for the leasehold on the 88 acre site near Otterspool in July.
Part of the site has already been sold off for housing and leisure developments.
A spokesman for the new group, Langtree McLean, say they will be working closely with Liverpool City Council to put through a planning application for the site.
They say it will be 12 months before people will be able to see any work being done there.
The site's future will include a mix of commercial and housing development along with the possible restoration of some of the gardens.
Deeside-based David McLean are the developers of Liverpool's Princess Dock and the City Quay.