The proposals will see 184 out dated, deck access maisonettes at Ellerton Walk demolished and replaced with new modern homes for rent and sale.
It follows consultation with the residents in January that saw almost 75% of the 161 returned surveys in favour of demolition redevelopment, rather than refurbishment or doing nothing.
The multi million pound programme will be funded from the council’s Housing Revenue Account (HRA) capital budget approved by Cabinet in January.
If approved at the council’s Cabinet Resources Panel tonight (Tuesday), there will be ongoing consultation with residents, as the detailed proposals and designs are worked up over the coming 18 months.
City of Wolverhampton Council Leader, Councillor Ian Brookfield, said: “The 100 year anniversary of council housing in Britain this year gives us cause to celebrate our work in the City of Wolverhampton.
“We are continuing to invest heavily in new and replacement council housing and this scheme will make a major difference to residents in New Park Village.
“It forms part of our housing plans to deliver better homes for all across the city.”
The 1960s maisonettes sit within eight linked deck-access blocks, each with integral garages at ground floor level.
Subject to planning approval delivery of the demolition and redevelopment scheme will start from winter 2020 and will be phased over several years to minimise the number of moves residents have to make.
Environmental improvements will also be designed alongside the new homes, addressing car parking and road layout with the redevelopment of the estate.