A planning application for a restaurant hub in Aylesbury is likely to be submitted in April.
The Waterside North project will see the creation of a new space for restaurants, apartments and a public square on part of what is now the Exchange Street car park.
The district and county councils are leading the project, but permission from AVDC as planning authority is still required. It is hoped this will be obtained by July and building work can begin in September.
As part of the scheme a car park has already opened on the old police site in Exchange Street.