Proposals are to be considered in Liverpool for the £1.4m revamping of part of the River Mersey waterfront to create a major open air venue in time for the city’s year as European Capital of Culture in 2008.

The scheme is focused around the Otterspool Park and Promenade and is designed to bring the park up to Green Flag standard and make the area a destination for local people and tourists.

Work undertaken will include restoring the historic ‘otters plaque’ seating area, creating a new entrance at Jericho Lane, installing new play and fitness equipment and picnic tables and upgrading paths and roads.

The redevelopment will be funded by the European Regional Development Fund and Mersey Waterfront; a partnership of local authorities and public and private sector organisations committed to the regeneration of the River Mersey waterfront.

The city council's executive member for environment and heritage, Councillor Berni Turner, said: "Otterspool Park and Promenade is a hugely important part of our waterfront, a superb green waterside resource offering, arguably, the best view of the upper estuary.

"These improvements will bring thousands more people to the park, provide a wonderful festival and performance space and create a stretch of shoreline which Liverpool people can be proud of.”

The proposals will go before the city council’s executive board on Friday (16 June). Details: www.liverpool.gov.uk

Photograph: Performers from Spike Theatre group – who are performing their open air play 'The True Adventures of Baron Munchausen' at Otterspool Park in July – with the council's executive member for Heritage and Environment, Cllr Berni Turner.