The scheme involves revitalising the town centre to create a mixed-use development in and around the Borders Railway station.
The local authority is now inviting bids to be submitted. Once a design team has been selected, it will draw up a 'masterplan' comprising of both residential and commercial elements.
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Cllr Jim Bryant said: "This is the beginning of a really exciting journey that will eventually see Newtongrange town centre transformed for the benefit of local people.
"The whole process will take a few years from start to finish. However, rest assured local people will be consulted on all aspects of the redesign project as it takes shape. We want to be sure that all the improvements are of benefit to everyone."
To view the contract, visit here.
(LM/MH)
