The historic Chart Room in Goolwa will undergo a revamp in 2020 thanks to a boost from the 2019-20 Regional Growth Fund competitive grant program.
The $212,800 project will renovate and upgrade the Chart Room into a contemporary multi-purpose space to accommodate a variety of new uses.
This will include various local enterprising groups wishing to promote their business, support events and tourism initiatives.
The $106,400 Regional Growth Fund grant to Alexandrina Council will cover half the costs of the restoration project.
Alexandrina Council mayor Keith Parkes recognised the significance of the contribution to the area.
"We are thrilled that the Chart Room, such an important historical building within the Goolwa Wharf Precinct, will receive funding from the 2019-20 Regional Growth Fund program.
"It is a fantastic opportunity to further renovate this space for local businesses to activate, as well as a prime asset for our community.
"It's a quaint building overlooking the Murray River and this Council asset is in need of some tender loving care and we can now move forward and look at restoration works for the Chart Room, ensuring accessibility for our community and businesses," Mr Parkes said.
The building was the former Chart Room of Curson & Hooker's Goolwa Iron Works and Patent Slip, with origins dating back to 1853.
It was used for the storage of their plans and charts surrounding their boat-building business and is one of just two surviving relics of the ship building industry in Goolwa.
It represents the historical significance of Goolwa as a port and it's importance in the development of the river trade.
Member for Finniss David Basham said heritage tourism was an important industry for the town of Goolwa.
"The Chart Room is an integral part of Goolwa's history and this adaptive reuse will provide a contemporary multi-purpose space while still maintaining its heritage characteristics," Mr Basham said.
Minister for Regional Development Tim Whetstone is confident that the new renovations will have positive implications for local trade.
"Restoring and reactivating the Chart Room will bring it back to life for today's generation, and create economic opportunity for local businesses to use it as a flexible pop-up space."