A £200m scheme to regenerate Kirkby without the development of Everton Football Club's new stadium is being put forward.
Kirkby Residents Action Group are against the Everton FC bid
Development Securities is to unveil regeneration plans including a new food store and retail outlets at a two day consultation on Friday.
The company is offering an alternative plan to Everton's 55,000 seater ground, which will incorporate a Tesco store.
Residents in the area said they welcome regeneration but not at any cost.
Mark Ward, chairman of the Kirkby Residents Action Group, said: "It's great to have people fighting to invest in Kirby. It's been a long wait.
"But we are concerned this is a done deal because the council appear to be rushing into bed with Tesco and Everton.
"We hope these proposals from Development Securities will be given the same courtesy and consideration.
The alternative plans include plans for a food store and new shops.
Mr Ward and the residents group are concerned about the effect the Premier League stadium would have on the town, including fears over traffic on match days and loss of green space.
The group have previously said they would call for a public inquiry if the stadium was approved.
No formal proposal for either development had been submitted to Knowsley Council yet.
Matthew Wyner, of Development Securities, who bought St Chad's Parade and shops in Kirkby in April, said: "We are confident we can bring forward a regeneration not dependent on the stadium.
"And it is about what the people of Kirby want."
The plans are on display in St Chads Parade from Friday.