Traders in Bristol's Broadmead shopping centre have voted in favour of becoming a Business Improvement District (BID).
The expanded Broadmead should open in 2008
All businesses will now be required to contribute 1.5% of their rateable value over the next three years.
John Hirst, Broadmead manager, said the result was "really fantastic news, the best we can hope for".
The money will be used to improve store location signage at the entrances, new paving, and replacing street furniture.
Under the scheme retailers will get more of a say in the running of the centre.
Mr Hirst added: "Great progress has been made in getting the basics of cleansing and creating a safe environment in Broadmead.
"We can now turn our attention to getting right the appearance of the centre."
Bristol City Council will also be contributing £255,000 over three years towards the environmental improvements to the shopping centre.
The Broadmead BID is due to start later this year ahead of the £500m expansion of Broadmead due to open in 2008.