The grant was awarded from the North of Tyne Combined Authority (NTCA).
The funding is ringfenced to create a 'cultural quarter' around Howard Street and Saville Street, developing stronger connections between the town centre and the vibrant Fish Quay. The heart of the Cultural Quarter will feature a cluster of buildings located at the crossroads, including The Exchange, the Globe Gallery and the Business Centre, and will include the North Shields Customer First Centre.
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Cllr Carl Johnson, Deputy Mayor of North Tyneside Council, said: "Investment in a Cultural and Creative Zone in North Shields provides us with the opportunity to improve and diversify the economy in the town centre, driving footfall through events and performances and playing a pivotal role in reinvigorating the area and creating social and economic benefits for the people who live, work and visit North Shields, by building on social inclusion and helping create a sense of pride."
The project will fund the internal building works within the Exchange, to deliver affordable and fit-for-purpose spaces, including the installation of digital infrastructure to the area, with these works expected to be delivered within the first 18 months.
Cllr Johnson added: "We want to extend the offer of accessible, affordable and fit-for-purpose spaces for business, performances, visual arts and music in the town centre. These shared facilities will create a social network for cultural and creative businesses, offering bespoke support for the cultural sector, as well as opportunities for training, skills sharing and widespread community engagement and participation in the arts and culture."
