Conversion of the old post office on Abingdon Street into a boutique hotel and an upgrade of the town centre road network are among schemes the council has put forward for a £20m share of the £4.8bn Government fund.
Also earmarked for levelling up funding is the creation of a new convention space within the Olympia Building, part of the grade two-listed Winter Gardens.
That project is earmarked for £4.1m under the council’s bid.
Nearby, work to create a £28m conference centre at Winter Gardens is due to complete in November.
The post office redevelopment is being led by developer Ashall’s Property and is expected to cost £24.8m, according to Blackpool Council.
However, an independent review carried out by consultancy CBRE identified a £7m viability gap. Therefore, the authority intends to spend the Levelling Up Fund cash to fill the void.
The £9m highways upgrade aims to improve capacity and reduce congestion on approaches to the town centre. The project also features public realm improvements leading down from Adelaide Street to Hull Road to support an enhanced entrance to the £300m Blackpool Central development.
In addition, Blackpool is also looking at schemes in Blackpool North ward that could benefit from a cash injection if the council qualifies for a second Levelling Up Fund bid.
Other funding avenues, including the upcoming Shared Prosperity Fund, are also being considered to take forward schemes in Revoe, Claremont and the Waterloo area, the authority said.