NORTHAMPTON Borough Council is set to appoint a contractor for its Vulcan Works project to provide managed workspace for creative enterprises.
The scheme, costing around £14m, will create a total of 59 lettable units in the area between Guildhall Road, Angel Street, Fetter Street and St John's Street.
Preliminary work already completed includes demolition of the former Amalgamated Tyres building, asbestos removal and archaeological work.
Cllr Tim Hadland, Cabinet member for regeneration and enterprise, said: "This scheme has been some time in the making and we are delighted that we should have contractors on-site within the coming months.
"Northampton is one of the most entrepreneurial places in the country and Vulcan Works will provide space for new businesses to establish and thrive.
"This means that, with current work on the extension and renovation of the Northampton Museum and Art Gallery, we've been able to commit around £22 million into our blossoming cultural quarter during the past year."
South East Midlands Local Enterprise Partnership has facilitated a Local Growth Fund contribution of £6.3 million and £3.06 million from the European Regional Development Fund. The Council is covering the remaining costs.
Once construction is under way, an external operator will be sought to run the facility on behalf of the Council.
During its first ten years of operation, Vulcan Works is expected to support up to 100 businesses, creating around 300 jobs.