Designed by internationally renowned architect, David Chipperfield, the Turner Contemporary is a world-class design.
Alongside the best of contemporary art, the gallery will show works by JMW Turner reflecting the famous artist’s links with the South Coast town.
The new centre, featuring galleries, a café, conference and studio space, is expected to put Margate on the arts map.
Sally Abbott, Director of Arts at Arts Council England, South East said: "We are absolutely delighted that SEEDA have confirmed their partnership and commitment to this dramatic and important new gallery in Margate. This will be a landmark building representing a huge achievement for artists and arts development in the south east and beyond. This is an exciting time for the project and we look forward to working with all the stakeholders locally and nationally to make the vision a successful reality."
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Pam Alexander, Chief Executive of SEEDA and Chair of the Margate Renewal Partnership said: "The SEEDA Board is pleased to support this world class opportunity to bring culture-led regeneration to Margate, reinforcing the investments that SEEDA has already made in the town centre.
"Margate can now move ahead confidently with its plans for the Turner Contemporary and this striking new architect-designed building.
"We see this as a great opportunity to boost the town’s economic development, bringing jobs and business to the community and supporting the cultural and creative businesses that are already making Margate's old town their home."
Mike Hill, Kent County Council Cabinet Member for Community Services, who is leading the project on behalf of the County Council said: "The Arts Council and SEEDA have been supportive of everything that we are trying to achieve with Turner Contemporary since the outset.
"These funding agreements demonstrate our partners’ confidence in the project and the impact it is going to have on the whole area."
Sandy Ezekiel, Leader of Thanet District Council, that has provided the land for the gallery added: "This news is fantastic as Turner Contemporary will be a landmark building and one that will help with Margate’s economic regeneration.
"The council are working hard to regenerate Margate's old town and it is being transformed into a vibrant new cultural quarter. Much of that work has been because of the prospect of Turner Contemporary, which shows the impact it is already having on Margate and the town's regeneration."
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