So the "Big Dig" is underway.

The race is on to transform the city in time for what is hoped will be a great influx of visitors during Liverpool's Capital of Culture year.

The regeneration scheme is one of Europe's biggest. Thousands of new jobs are being generated, and billions of pounds are being invested into the local economy.

A number of different projects are taking place at once.

LIVERPOOL ONE Once complete, the Paradise Street Development Area will see the creation of more than four thousand permanent jobs, as it transforms previously under-used areas of the city centre into 1.6m square feet of shopping space. The Paradise Project will deliver six distinct districts which will house shops, a cinema, two new hotels, cafes, apartments, car parks and a new public park. Phase One opens in May.Project cost: £920m Latest images
KING'S WATERFRONT This project will see the creation of a nine thousand seat arena, seven thousand square metre exhibition facility, thirteen hundred seat auditorium and eighteen hundred homes - all on the banks of the River Mersey. There will also be two hotels, commerical leisure and retail space, plus car parking and open public areas. Project cost: £390m Latest images
MANN ISLAND APARTMENTS Mann Island will offer Liverpool a link between the River Mersey and the existing City Centre, It will feature public areas, cafes and restaurants, shops, exhibition space, 376 apartments and 140,000 square feet of high quality commercial office space. It is designed in black granite by award-winning architects Broadway Malyan. Project cost: £120m Latest images
CITY CENTRE MOVEMENT STRATEGY The aim of the strategy is to improve the roads, streets and public spaces in Liverpool city centre. It's hoped the changes will lead to a smarter, safer and greener city. Project cost: £73m
THE MET QUARTER - COMPLETE The former Post Office building on Whitechapel has been converted into an exciting retail development, bringing new fashion and lifestyle shops to the city. The scheme provides 81,000 square feet of retail accommodation, restaurants and bars. Project cost: £70m Latest images
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MUSEUM OF LIVERPOOL The Museum of Liverpool will have a total floorspace of 9745 square metres with galleries on four floors, 80 per cent of the building will be public space. It will showcase Liverpool's history in a striking new building designed by Danish architects 3XN. Project cost: £68m Latest images
EDGE LANE CORRIDOR Edge Lane is the main route into the city from the M62 motorway. This scheme will make major improvements to the road. Project cost: £65m
LIME STREET GATEWAY Those who arrive by train, arrive at Lime Street Station. The area around the building is being turned a visually-stunning entrance to the city. There will be new public space and a new tower block with cafes and shops at its base. And, for the first time in years, visitors will be able to see the station's stunning Victorian arched gable-end. Project cost: £35m
CRUISE LINER FACILITY - COMPLETE This new facility at Princes Dock enables Liverpool to attract major ships and extra visitors to the city on a regular basis. It was officially opened in September 2007 with a visit by the QE2. Project cost: £19m Latest images
LEEDS-LIVERPOOL CANAL LINK The Leeds–Liverpool Canal currently ends just before it gets to the city centre. This project will see the waterway extended in front of the three graces and into South Docks. Project cost: £17m Latest images
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