A planning application for the £100m-plus redevelopment of the existing 1960s West Way shopping precinct has already been submitted and a supporting environmental statement went in last week.
Under the deal, Mace has become a joint venture partner and shareholder in Doric Properties.
The developers plan a large supermarket, a cinema, a hotel, restaurants and cafes, 525 student bedrooms, community spaces, and a Baptist church.
The planned development is arranged around a new public space and a large car park under a podium.
Stephen Pycroft, executive chairman of Mace, said: “We’ve always taken a partnership approach and we’re absolutely delighted to have partnered with Doric Properties to help deliver their proposals which will revitalise Botley.”