The historic contractor will begin works on the £21 million first phase in early February 2017.
Designed by architect Feilden Clegg Bradley Studios (FCB Studios), the scheme will overall three-phase scheme aims to reinvigorate and reconnect the Royal Pavilion Estate, improving the city's cultural quarter.
The Corn Exchange, formerly the Prince Regent's Riding house, will be transformed to reveal previously hidden heritage features, as well as providing extra seating and a new viewing gallery.
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In addition, improvements will be carried out to the Studio Theatre, once a supper room, to include balcony seating, a new artists' creation space and a café opening onto a plaza at street level.
The £21m first phase is being jointly funded from a range of sources, including major contributions from National Lottery players via Arts Council England and the Heritage Lottery Fund, as well as commitments from a number of charitable trusts and individual donors, council capital funding and a public works loan.
Council leader Warren Morgan said: "This is the start of another ambitious project the council and partners have worked hard to bring to fruition.
"We are very relieved and proud to have found a viable way forward to restore and safeguard these treasured buildings for years to come and look forward to seeing phase one of the project brought to life by the newly appointed construction team."
(LM/MH)
