The architecturally-designed shopping centre would be spilt into two buildings with a central glass atrium and was expected to accommodate a restaurant, bar and cafe with potential for national retailers, he said.
"We believe this will be a big statement and the gateway to Mount Maunganui, that is why it's called Mount Central."
Space behind it had also been allocated for 50-plus carparks.
Mr Seton said a key feature would be the incorporation of palm trees, an aesthetic that "comes from the harbour and helps establish the landscaping tradition that brings it back to the Mount".
One 400sq m shop space would be marketed shortly as select tenants were sought, he said.
"We intend to look, listen and understand tenant interest to achieve the best mix in order to create a strong, vibrant environment where tenants feed off each other."
Mount Mainstreet manager Peter Melgren said the project would enhance Mount Maunganui's point of difference and it was not the only site looking at redevelopment.
"We have five nationally recognised fashion designers working here, 33 women's boutiques and 17 gift shops so the collective attraction is amazing ... but there are gaps, we are not threatened by adding in some chain stores."
Sisters and Co boutique owner Rodelle Payne said the Mount was "really buzzing and I truly believe if there are more cool things for people to come to, it helps us all.
"Chain stores attract people so bring it on."
Priority One projects manager Annie Hill said it was great to see developments happening at Mount Maunganui.
"Investments of this size provide confidence in the market and stimulate other investments around the city. "
Tauranga Chamber of Commerce chief executive Stan Gregec said it, "looks like the Mount might be set for more landmark developments".
"It's no surprise really as the opportunities must be exceptional for prime real estate that is so well positioned near the port and commercial centre."
Tauranga City Council strategic planner Andrew Mead said there was little or no undeveloped retail or commercial land at Mount Maunganui at the moment.
However there was still plenty of development potential seeing that the commercial zone allows buildings to 12m (four storeys) and most of the Mount Maunganui shopping area is single storey, he said.
The Bay of Plenty Times Weekend gave the opportunity for business owners affected by the development to comment but they either declined or did not respond in time for this edition.
Mount Central
* 1350sq m development with nine tenancies
* Located on corner of Mount Maunganui Rd and Banks Ave
* 50 car parks
* Work expected to start after Easter
* Completed by end of 2016 in time for Christmas trade