A placemaking plan for Barry could see empty buildings in the town centre brought back into use.
Vale of Glamorgan Council says it's secured a low interest loan from the Welsh Government to buy a number of commerical properties.
They're now considering investment opportunities and are looking to develop ideas that support Barry's placemaking plan, which is currently at a draft stage.
Proposals for the Vale's other town centres - Penarth, Llantwit Major and Cowbridge - were rubberstamped by the council's cabinet last month.
Council leader Lis Burnett said: "We know how important our town centres are to residents. This is not just because of the economic benefits they bring to the Vale but also the sense of community and place that a vibrant town centre creates."
"Bringing vacant shops back into use will help breathe a new life into the high street. It will increase footfall and local spend and in doing so support the town’s other traders."
"Barry town centre offers easily accessible shops for some of our most deprived communities. For this reason, ensuring that it offers quality and affordable options to local people is critical to improving life in the Vale."
"New businesses will also help bring back to the town centre those who have switched to shopping elsewhere in recent years."
A consultation is currently underway on the placemaking plan for Barry, which according to Vale of Glamorgan Council, is aimed at transforming local communities into "vibrant, welcoming and resilient" places to live, work and visit.
Cllr Burnett said there were "a number of opportunities up for consideration" but could not share the detail of those "while negotiations are ongoing" but hopes " to be able to very soon."
She added: "Residents and traders in the town have the opportunity to shape how these are used through consultation on the Barry Placemaking plan."
The final placemaking plan is expected to be presented to the council's cabinet in the autumn.
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