The project, which is on the site of a former coach park, will include a multiplex cinema and restaurants, ice rink, student accommodation and flats.
Bouygues Development was selected following extensive negotiations with seven developers, which were subsequently reduced to a shortlist of three developers for the final round.
Axel Boutrolle, regional director at Bouygues Development, said: “After eight months of hard work, we are confident that we have designed a viable scheme which keeps to the council’s project scope and respects the surrounding area.
“We have put together a very competent professional team and we look forward to realising this important strategic site for Canterbury.”
JLL advised Bouygues Development on the development, funding and leasing strategies for the project.
The next phase of the project will see Bouygues Development working towards submitting a planning application at the start of 2016 with construction starting later that year.