A cash windfall of £376,000 has given the green light to Teignmouth's bid for a new £1 million heritage centre.
The final piece in the funding jigsaw fell into place this week after the government announced that the town was to share in the £45 million Sea Change initiative.
It means that work could start on the project as early as next year on a site opposite the railway station.
When completed, the new centre will provide a suitable home for what has been described as a nationally important collection of artefacts and archive material currently housed in the Teignmouth and Shaldon Museum.
Among the treasures are items from the Church Rocks wreck site and Admiral Pellew's flag from the 1816 battle of Algiers.
The 'architecturally significant scheme' will also give visitors to the town a completely new first impression.
The Sea Change cash, which totals £376,676, was successfully bid for by Devon County Council on behalf of Teign Heritage.
Teignmouth representative Cllr Chris Bray welcomed the news.
'I am delighted that the bid has been successful and that it will enable the heritage centre to go ahead with the redevelopment of the museum.
'I am particularly pleased, as a county councillor, with the efforts of Devon County Council in putting in the bid to Sea Change which has resulted in this considerable sum being allocated.'
Earlier contributions include a Heritage Lottery Fund award of £400,000 and £132,000 from community fundraising efforts.
Teignbridge Council has jointly gifted the land with the county council and English Heritage has pledged its support.
Colin Trigger, chairman of Teign Heritage, said: 'With the final funding now confirmed, this project has been an excellent example of volunteer enthusiasm and perseverance.
'Of course the key funding sources are the Heritage Lottery Fund and the recent Sea Change initiative, but a variety of trusts, charities and foundations plus individual pledges, donations and local fundraising events not only produced considerable funds but helped to develop awareness and support for the Teign Heritage project.
'Much work lies ahead, but we are very grateful to all concerned for getting us to this exciting point.'
Teignmouth is one of 12 English coastal towns to share the latest Sea Change cash awards. Torbay benefited in August.
The payments are were announced by the Department for Culture, Media and Sport as part of its three-year £45m programme which is being led by CABE, the Commission for Architecture and the Built Environment.