The Arts Council England has awarded Manchester City Council £5.5 million in funding for HOME, the new production centre for international contemporary art, theatre and film.

The new venue, at First Street, is due to open in spring 2015 and will have a 500-seat theatre; a 150-seat flexible studio space; a 500m2, 4m high gallery space; five cinema screens; digital production and broadcast facilities; a cafe bar and restaurants. HOME will also incorporate three of the existing viaduct arches along Whitworth Street West, which will house the venue's education spaces.

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The investment from Arts Council England represents another step forward in the regeneration of the 20-acre First Street site, for which HOME is providing a powerful catalyst.

Sir Richard Leese, leader of Manchester City Council, said: "This award from Arts Council England recognises the tremendous existing value of Cornerhouse and the Library Theatre Company. But it also reflects the significant contribution to the regional and national cultural scene they will make as a new organisation in HOME.

"Most directly, it will act as a stimulus to further job creation and investment in the First Street area. It's exactly the sort of project supporting future growth which we need to be bringing forwards now, despite the difficult economic circumstances and today's award is an extremely welcome contribution."

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