Crawley Borough Council could consider buying property in Queens Square as part of its regeneration plans for the town.
Along with West Sussex County Council, the borough has set aside £1.5million to improve the look of the aging square in an attempt to attract more shoppers and more businesses to the area.
But with neither council owning any of the shops bordering the square, their options are limited when it comes to where the £3million in total can be spent.
At a meeting of the full council on July 23, councillors will be asked to approve the use of £5million to invest in the purchase of property – and units in Queens Square have not been ruled out.
Cllr Peter Smith, Cabinet member for planning and economic development, said: “We potentially will use some, or all, of this funding in the town centre to support our plans for town centre regeneration and to encourage property owners to take a positive and supportive view of our programme. All locations, including Queens Square, will be considered for investment properties.”