Alsop Architects' proposals for a Fourth Grace on Liverpool's waterfront received a major cash boost this week with the announcement of new European Union funding.
Liverpool Culture - the organisation behind the city's successful City of Culture bid - has decided the 'vast majority' of an £82 million windfall earmarked for regeneration will go towards ensuring the success of both Alsop's 'cloud' and the redevelopment of the Kings Dock site.
The cash is part of the EU's larger 'Objective One' fund set up to aid the renaissance of the North West's poorer areas.
Until now it has been unclear where the funding for the Fourth Grace would come from.
Objective One director Jon Flamson said the 'financial opportunity' must be used to ensure these major construction projects get off the ground.
'The Capital of Culture celebrations have the potential to transform Merseyside by creating a legacy that will last for decades, ' he said. 'It is a unique opportunity and one that we are grasping with both hands.
'We must now step up a gear and get to work on these projects that will not only lift Liverpool but which can also make the city a thriving place to live and work, ' Flamson added.
Alsop won the competition to design the Fourth Grace in December of last year, seeing off competition from the Richard Rogers Partnership, Foster and Partners and Edward Cullinan Architects.
The contents of the building are yet to be decided, but it is understood that it will house a mixture of commercial offices and exhibition space.