Judges have announced the winning entry in the competition to find the best name for the new town centre at Bradley Stoke near Bristol.
They have chosen "Willow Brook Centre" for the retail development, which is due to be completed this Autumn.
The winning entrant has decided to remain anonymous and has donated the prize to a local charity.
The town was nicknamed "Sadly Broke" in the 1990s when property prices fell and many were affected by negative equity.
Councillor Robert Jones, the town's mayor said: "I think Willow Brook Centre is a good choice. The name is in keeping with others around the town but unique enough to avoid confusion."