The $1.3 million project focuses on the north face of the 28-year-old mall and includes stone walls, new paving, lighting, seating and landscaping. It follows on from a new bus shelter and public toilet block constructed in Lode Lane and opened late last year.
Central Otago deputy mayor and Cromwell Community Board chairman Neil Gillespie told about 50 people at the celebration the project had been discussed by the board for ''a long long, long time'' after consulting business people and shop owners.
''It was 1998 when I first remember the concept of the mall redevelopment first being discussed, 13 years after the mall opened. I recall one of the changes suggested was to have a rocketship in the middle somewhere,'' he said. The recent upgrade resulted in what ''the professionals call a vibrant front edge''.
At its meeting on December 9, the board would consider the next stage.
''Finance is one of the big issues we face. It's the biggest thing that's held us up so far.''
Mr Gillespie was confident the project would give residents and business owners more pride in the central business district.
Landscape architect Brooke Mitchell, of Baxter Design Group, said Old Cromwell had been used for inspiration for the project.
''It's a classic case - an elegant mix of design elements and we've given them a contemporary twist.
''The aim is to bring back life to the mall.''
Phillipa Bremner, owner of mall shop Scent Florist, said she loved what's been done so far. ''It's gorgeous.
''I think as we get more visitors coming in over Christmas, especially people who are familiar with the town, we'll get some great comments back about what's been done.
''The seating and stonework is awesome and it's fantastic to have so much space so people can gather for a coffee or chat,'' she said. ''I'm excited about the future and look forward to the rest of the upgrade being rolled out.''