More than £1.5 million could be spent on improving some of Leicester's historic streets.
Council bosses are to set aside £450,000 to spruce up the Greyfriars area around the city's cathedral.
They hope the move will prompt the Heritage Lottery Fund to release a further £1.1 million.
If the council succeeds in securing the lottery cash, the money will be used to provide grants and advice to businesses, property owners and community groups to help repair and restore buildings.
The five-year project will focus on New Street, Millstone Lane, Friar Lane, Wycliffe Street and part of St Martins and Peacock Lane.
The area is expected to see an influx of visitors after the opening of the new Richard III visitor centre next Saturday, and then the re-interment of the king's bones at Leicester Cathedral next year.
The aim is to invite property owners and leaseholders to apply for financial support to repair and restore building frontages, reinstate lost architectural features, such as original windows, fencing and decorative masonry, or bring empty floor space back into use.
However, the council has said it does not yet know how much money will be available to each bidder.
City mayor Sir Peter Soulsby said: "This area is one of the architectural treasures of the city centre.
"These proposals are about making over £1.5 million of funding available to businesses and property owners in this historical area and to work with them to bring about lasting and positive improvements.
"It is vital that we invest in and show off the unique character if we are to fully realise the huge potential that exists in this historical and architecturally rich area of the city."
Sir Peter added: "We have a lot of wonderful Georgian architecture there.
"It's perhaps not as dramatic as the Jewry Wall or the fine churches but it is very impressive."
The project will also include training courses and research workshops to help people learn more about the history and architectural character of the area.
A final decision on the lottery funding is expected to be made in December. If the bid is successful, the council's investment of £450,000 will be made from money set aside for the Leicester Economic Action Plan. The council says the initiative will link in with its Connecting Leicester programme, which includes several multi-million pound projects – Cathedral Gardens, Jubilee Square, the redevelopment of Leicester Market and improvements to nearby Guildhall Lane and Applegate.
Source: Leicester Mercury
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