Plans drawn up by Muse Developments in partnership with Warrington & Co and Warrington Borough Council will see a new market hall, civic centre, multiplex cinema and shops and restaurants.
Tenders have been returned for the job and site works are scheduled to start early in the New Year once the main contractor is selected.
The new market hall will incorporate the Grade 2 listed former Boots building façade on Bridge Street as one of its entrances.
The scheme will be delivered in two phases in order to minimise disruption for market traders and allow the market to remain open throughout construction.
Councillor Terry O’Neill, leader of Warrington Borough Council said: “Warrington town centre is on the cusp of a renaissance which will bring its vitality back to its former glory. This is an historic moment.”
David Burkinshaw, development director at Muse Developments, added: “This is great news and means we can press on with delivering this important scheme for Warrington.
“The new Bridge Street Quarter will transform the town centre, providing fantastic new leisure opportunities, offices and a modern new home for the much-loved market, which will attract visitors from across the region.”