The drop-in session will be held at the Royal British Legion on Wednesday from 4pm-8pm.
Plans for Smithy Green will see 18 two-bedroom (three person) flats and 24 three-bedroom (five person) townhouses built on the green.
Formby Labour Action Team's Peter Maguire and Ravenmeols Ward Labour Councillor Catie Page said it is crucial that people attend the drop-in session and have their say about the plans.
Peter said: "This is a major proposal for Formby and we want to make sure that everyone has the chance to have their say.
"We want all the views of the community to be heard in relation to this major development.
"There will be an opportunity to see detailed plans for the 18 flats and 24 townhouses and also for people to ask questions about the plans.
"The people of Smithy Green and the wider community must be given the chance to air their views in relation to these plans before any decision is made. This latest drop-in session gives us all the chance to have our views heard."
Peter said: "I've been contacted by scores of people who have concerns about the plans they have seen or have questions about the proposals.
The drop-in session will be held between 4pm-8pm on Wednesday (April 4) at the Royal British Legion, Whitehouse Lane, Formby, L37 3LT. And have your say by writing to Formby Labour Action Team at 96 Gores Lane, Formby, L37 4DF or email firstname.lastname@example.org