A design from DSDHA has been chosen for the town of Clitheroe.
Winning design teams for the towns of Accrington, Burnley, Blackburn and Nelson have already been announced and the final winner - for Bacup - will be revealed later this month.
The designs are part of the Pennine Lancashire Squared competition, run by the Landscape Institute and commissioned by regeneration agency Elevate.
DSDHA's winning entry for Clitheroe suggests creating not just a square but a network of public spaces. Ideas include improving the market square and enhancing links between arrival gateways, pocket parks and meeting places.
DSDHA director David Hills said: "Working within such a stunning landscape is something about which we are deeply passionate. We hope that our design approach shows respect for Clitheroe's past while simultaneously creating opportunities for its cultural and commercial renewal."
Other teams shortlisted for Clitheroe were: Mitchell + Associates, ARUP and KMCS; Planit IE; Graeme Massie Architects, Rankinfraser Landscape Architecture and Donald Urquhart; and Birds Portchmouth Russum.