The funding, part of the Mayor of London’s £600,000 High Street Place Labs programme, will help Newham Council develop improvement plans for High Street, East Ham.
The planned upgrades aim to make it more attractive and pedestrian-friendly, while providing new opportunities for young people.
Rokhsana Fiaz OBE, Mayor of Newham, said: “Our high streets are the lifeblood of our communities, and this support from the Mayor of London fast forwards our ambitious plans to revive East Ham High Street as the vibrant, accessible, and welcoming town centre it is.
“We’re focused on creating neighbourhoods with thriving high streets that drive economic and social benefits for our local residents, including jobs.
“It’s all part of our agenda of driving inclusive growth which is about creating opportunities for local people and great places to hang out, shop and eat.”
The improvements will also include green infrastructure to reduce flooding and overheating risks.
The council will also explore ways to strengthen the night-time economy and address concerns around crime.