The Broadmarsh Centre walkthrough is expected to be back open by the end of August, after a £343,500 rescue package was agreed.
The work, expected to start this week, will see essential maintenance carried out to the centre so people can get through it on foot.
The partially-demolished shopping centre has lain dormant since the start of the Covid-19 lockdown.
When owners intu went into administration, ownership of the city centre site was transferred to Nottingham City Council.
It has since been revealed the council believes it is unlikely it will get all of the £17 million back that it invested in the project, but it is not yet known what the scale of the financial impact will be.
But with the city centre already under immense pressure, city council bosses have said reopening the walkway - which is the main through route from the South Side to the City Centre - is a top priority.
Now, a package has been agreed which will see Sir Robert McAlpine - the construction firm first hired by intu - carry out work to make the building safe.
Councillor David Mellen is the leader of the council, and represents the Dales ward for Labobur.
He said: “When the lease on the Broadmarsh Centre was disclaimed to the city council, we said our first priority was to reopen this walkway safely and as quickly as possible, and we’re now in a position to do so.
“The Lister Gate walkway is an important through route for the city and its closure has been inconvenient for a lot of people. We have had to balance making sure the walkway is safe with the need to get this public right of way reopen and we are now in a position where we can begin work to do that, just as people are coming back into Nottingham after the Covid pandemic.
“The withdrawal of intu from the site presents a financial challenge for the city council at a time when our budget is under immense pressure. Equally, this is a great opportunity to look again at the plans for this key site taking into account different ideas.
"We won’t be able to do this by ourselves and we will need to work in partnership.”
The Labour-run Nottingham City Council says findings from this work will help them to better ‘understand the asset’.
A council report on the issue says: “ Initial inspection has indicated that there are a number of urgent health and safety issues that need to be addressed on this demolition site, and the public right of way between Lister Gate and Collin Street needs to be reopened.
“This work will be undertaken by Sir Robert McAlpine Construction, who were intu's main contractor and therefore have extensive knowledge of the site and its condition.
“This work will allow the council to quickly ensure that the building has a short-term safe standing, assist the council with understanding the asset, provide temporary works and attendance, carry out inspections and tests of life safety systems, share records and information, undertake general maintenance and attendance and liaise with the providers of statutory services and tenants.”
Of the £343,500 bill, £180,000 will be spent with Sir Robert McAlpine, while £103,500 will be spent on site security.
A further £30,000 is being spent on mechanical and engineering consultancy, to better understand the location and maintenance requirements of live circuitry and CCTV.
Another £30,000 is also being spent on structural surveying consultancy, again with the firm previously employed by intu.
