The revamp, which begins with the restoration of popular event space Trafalgar Square's drinking fountain, will take place over three years and encompass 50 public space projects.
Among the key initiatives will be a redevelopment of Leicester Square and improvements to Richmond, Sutton and Woolwich town centres.
"I want to work with the boroughs and other bodies to shape and breathe new life into London's public spaces. This means creating a network of well designed and enticing outdoor areas, which increase our city's popularity as a place to live in, visit and invest," said Johnson.
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