Grosvenor Centre delays: Owners to revise plans for the project
New plans are being drawn up for the development of the Grosvenor centre in Northampton, according to the borough council.
Owners Legal and General Properties (LPG) initially set out to spend £250m to develop the shopping centre.
But those plans were withdrawn when LPG said the current economic conditions did not make the scheme viable.
The Conservative-run borough council said it was now waiting for more details of the revised plans.
However plans to knock down Greyfriars Bus Station for the extension will continue as a wider part of the development of the town.
Council leader David Mackintosh said: "This is a prime location for retail development in the town and moving ahead with the bus interchange is central to any plans for regeneration."
Both parties have agreed to hold fortnightly meetings to give the project momentum.
Simon Russian, head of retail development at LPG, said: "We have now taken steps to re-engage our design team to come up with a viable scheme that meets the needs of the town and all parties concerned."