After remedial works were carried out on the site in the shadow of Northern Spire bridge, construction is set to start in July this year, with the initial film studios set to open at the end of 2027.
It comes after North East mayor Kim McGuinness announced £38.5m of new funding for what was described as Phase One of the development, in addition to £25m of funding as part of the Devolution Deal which established the North East mayor.
Although a scaled-down version of the original plans after main backers, financiers Cain International, pulled out, phase one will still see the creation of a 125,000 sq ft film studio including a new build facility and refurbishment of the Doxford Printworks building.
Once complete, the facility will be capable of hosting live events and gameshows, as well as blockbuster films and TV projects.
The name Crown Works Studios is a nod to the past as it stands on the site of the long-gone Coles Cranes on the old Crown Works manufacture plant in Pallion.
The site housed Coles Cranes for more than 50 years until its closure in 1998.
Previous to that, from 1917, the site was the home of Egis shipyard, which built a total of 34 ships before closing in 1930.
As the site prepare for new life, grab your popcorn for our gallery from our archive of Coles Cranes, captured by our photographers of the day between 1976 to 1984.
5. Braving the weather
Another Sunderland Echo archive scene from a day at the plant in 1980. | se
6. Happy days
The 100th crane produced at the plant was a time for celebration in 1980. | Sunderland Echo
7. Learning all about it
Teaching the younger generation about the machinery in a scene from the Coles Cranes open day in 1980. | se
8. Fun at the open day
These children got a chance to climb on the machinery at the open day 44 years ago. | Sunderland Echo