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.
9. Seen in 1982
William De Vigier retiring chairman of Coles Cranes, lays the foundation stone of the new central store, watched by David Steel, managing director. | se
10. A great outcome in 1984
Apprentices David Cain (left) and Christopher Gibbins, both steel fabrication apprentices won silver award certificates and medals at the Craftex 84 competition. | se
11. Taking you back to 1984
The scene at the gates of the factory - taken by an Echo photographer in October 1984. | se