A £12m community hub will bring a new library and a place where people can meet and learn new skills.
West Norfolk and Norfolk County councils have secured £7m from the government's Department for Levelling Up, Housing, and Communities (DLUHC).
It says the new centre will offer a "fantastic opportunity" for the centre of King's Lynn.
The hub will be built in the former Argos store, on New Conduit Street, with the county council also contributing £5m towards the project.
West Norfolk mayor Lesley Bambridge said: “Over the years, I have seen by my many visits to the library that much more is offered by the service and the new premises will ensure that the wider community will be able to take advantage of what will be available.
"It will be a place where people can meet, learn new skills, both work-related and hobby activities, focussing on toddlers to the elderly.”
Graham Middleton, deputy leader of the borough council, said: “Basing many essential services in this prominent town centre location will make them more accessible for a whole range of people as well as increasing footfall in this part of the town.
"I would like to thank all the partners involved for all their hard work in developing the business plan and securing the funding for this transformational project.”
Margaret Dewsbury, Norfolk County Council's cabinet member for communities and partnerships, said: “I’m really pleased that the funding has been secured and we can now move forward with this much-needed project.
“The hub will provide residents with a fantastic place to come together and not just borrow books, but make use of all that is on offer, such as learning, resources, and access to information technology.”
A tender will shortly be issued to provide the construction of the building, and the next stage of the design will start next year.
The councils say a public consultation will be carried out over which services will be based at the hub, along with its design.
The current King’s Lynn library, on London Road, will stay open until the opening of the hub in 2025.
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