Corridor Manchester, the regeneration partnership for the area around Oxford Street south of Manchester city centre, has secured £5.1m of funding for the first phases of new public realm works.
The public sector organisation will be making the official announcement next week when representatives will be attending MIPIM in Cannes, France.
Corridor Manchester is supporting Manchester's stand at the world's largest property convention.
To be completed this year, new public realm works will be carried out to First Street, improvements will be made to the landscaping and Grosvenor Square at All Saints, Manchester Metropolitan University and outside the Whitworth Buildings at The University of Manchester.
Corridor Manchester partners with the North West Development Agency, which are investing £2.55m and £2.5m has been secured from European Regional Development Fund to finance the work.
Jackie Potter, chief executive of Corridor Manchester, said: "This is a significant first step for Corridor Manchester as we work to realise our ambitious plans to revitalise the Corridor making it a more pleasant, interesting and inspiring environment befitting of the institutions and organisations located there."
The European Regional Development Fund programme is backed by the Programme Monitoring Committee, a group of senior representatives from across the region. The group was formed to monitor, oversee and advise on the delivery of the programme and proved invaluable to the development of the new fund.
Cllr Val Stevens, deputy leader of Manchester City Council and member of the European Regional Development Fund Programme Monitoring Committee, said: "We welcome the significant investment in a key development area of Manchester and it is another example of ERDF investment in the North West, creating employment opportunities for the future."
The three day MIPIM event takes place from Tuesday 16 March. The Manchester stand is located at B1.00.