Brighton & Hove City Council is "currently exploring" the opportunity of building a new home for the city's Brighton Centre conference and exhibition venue, thus providing space to enhance the city’s shopping offer by expanding the Churchill Square shopping centre.
Both projects are still in the very early stages and are being managed in partnership with Standard Life Investments and Venue Ventures.
Council executive director Geoff Raw said: "We believe we have a once in a generation opportunity to deliver a range of benefits for the city in partnership with the private sector. We have worked hard with Standard Live Investments and Venue Ventures to ensure the project is deliverable before seeking approval to take it to next stage from the Policy & Resources Committee. If the committee agrees with the report we will aim to sign a development agreement in the first half of 2015."
The Policy and Resources Committee is meeting today (16 December) to consider the project.
Overall, it is estimated that once operational the project would generate approximately 2,000 new jobs and £150m per annum of additional expenditure in the city.
Both sites could also deliver around 450 new homes, which would help fund the overall project and reduce the investment required from public sources.