Work has started on a project aiming to become the heart and soul of a new creative quarter.
Fargo Village, in Far Gosford Street, will see bars, cafes and a range of outlets built as part of a £5million investment.
Project bosses hope it will make the city more fashionable and offer an alternative to the high street.
Ian Harrabin, managing director of developers Complex Development Projects, said: "We are bringing a piece of the London cool scene of Camden and Brick Lane to Coventry.
"Twenty years ago these were run down areas of London but with investment into the creative industries they have now become major attractions bringing in visitors from all over the world and in turn supporting the local economy.
"To emulate some of that success here would give Coventry a huge boost in perception and appeal to locals and visitors.”
A 'peculiar' ground cutting ceremony - aimed to symbolise how different the project will be - took place last week with the help of Coun Lynnette Kelly, the council's head of business.
She added: "This development will complement the fantastic renovation and regeneration that has already taken place in Far Gosford Street."
