More than £2.5m has been awarded to Hull City Council as part of a government scheme to bring vacant and derelict buildings back into use.
The money forms part of wider plans to revive struggling high streets at a time when retailers are facing falling footfall and challenging trading conditions.
The council welcomed the funding but said it was not yet in a position to set out any details of how it would be used.
Councillor Haroldo Herrera-Richmond said the fund could “help revive our high streets” provided it was “allocated properly”.
The council also argued that Hull continued to receive less support for its city centre than other northern cities and said it would keep lobbying for a fairer deal.
The city centre has seen a number of recent regeneration projects, with Pizza Express relocating from Princes Quay to a refurbished former Burton store, while work is continuing to convert the former Debenhams building on Prospect Street into apartments.
Hull is one of 60 local authorities to receive a share of £125m from the Derelict Buildings Fund.
The announcement comes amid concerns over the number of empty retail units in the city centre.
In Hull, the manager of Princes Quay, a flagship 1980s shopping centre, urged people to “vote with their feet” and support local businesses.
Sarah Smith said the empty units, including those at the shopping centre, reflected the challenges retailers face.
“By choosing to shop local and actively support the businesses on our doorstep, we aren’t just buying a product, we are investing in the heart of our community,” she said.
“Now more than ever, we need to champion a positive outlook for Hull’s high streets.”
She said Princes Quay was working with leasing agents to attract new tenants and expected to welcome 11 new businesses over the next six to eight weeks.