Councillors and traders gathered in Great Suffolk Street on Wednesday to celebrate the new-look parade of shops near the Southwark Bridge Road junction.
The changes include wider pavements, new parking arrangements, new lighting, hanging baskets and street furniture.
The parade of shops includes a butcher, greengrocer, bakery, florist, locksmith and several cafes.
The shopkeepers have endured months of disruption due to the cumulative effect of Thames Water's mains replacement programme and Southwark Council's work to improve the Southwark Bridge Road junction.
Now the work is almost complete and new cotton shopping bags have been produced to promote the Great Suffolk Street parade.
"I hope this gives a real boost to the area," said Cllr Morris. "Whenever anybody does surveys locally – whether it's the councillors or Bankside Residents' Forum – people always talk about the importance of local shops.
"I think this is a fantastic shopping parade. We've managed to keep the shops that have been here for a number of years ... producing really good service and really good provisions for local people and I hope that this a sign of many more years to come for these shops."