Up to nine new retails units are planned, along with several food outlets, a gym and a new replacement car park.
Steamrock Capital, who took over the management of the Kings Chase Shopping Centre last year, are behind the plans and people are being invited to have their say at a public exhibition on Wednesday 15th March.
Graeme Jones, project lead from the company, said: “The multi-storey car park at Kings Chase Shopping Centre is in a poor state of repair, is underused and in desperate need of modernisation. We also believe this space can be better utilised to the benefit of the local community.
“Our proposals would improve a rundown area, create much-needed jobs and provide a welcome boost to the economy. We look forward to sharing our proposals with the people of Kingswood.”
A public exhibition on the proposals will be held at Unit 7 in the precinct between noon and 6pm on the 15th. Members of the public will be able to discuss the scheme with the project team and give feedback.
A planning application is expected to be submitted later in the year.
The precinct dates from the mid-1970s and its anchor stores include Sainsbury’s, Iceland, WHSmith, Boots and Wilko.
Tonight Martin Farmer, speaking on behalf of his fellow South Glos councillors for the Kings Chase ward, said: “We welcome any positive development of the Kingswood shopping area and we’re looking forward to seeing the plans.
“We hope as many people as possible will use the opportunity to submit their views..”