The stand will take Anfield's capacity to 61,000 and could be completed in time for the 2022-23 season
Liverpool hope to begin work on their new Anfield Road stand before the end of 2020.
The Reds will begin the second stage of their public consultation process today, having been encouraged by the initial feedback from local residents, businesses and supporters.
Liverpool announced in August that they had scrapped initial plans for an upgrading of the Anfield Road End. Outline planning permission for the addition of around 4,000 extra seats, which was first applied for in 2014, was allowed to lapse with club owners, Fenway Sports Group, believing the design to be insufficient.