Salford City Council has let a former bank building on Bexley Square, off Chapel Street, to the Creative Media Centre.
The social enterprise centre offers office and rehearsal space and was previously based nearby at the Angel Centre on Chapel Street.
The organisation has eight tenants including Hometown Production, Creative Environments, Hercules Production, Musicians Without Borders, Music Industry Learning, Unconvention and freelance percussionist Rome Mossabir.
Samantha McHale, business manager at The Creative Media Centre, said: "Our vision at The Creative Media Centre is to become a vibrant hub for the creative industry and wider community – an important stepping stone for people, offering invaluable knowledge and information.
"The external and internal improvement works will enable the centre to broaden its services and provide an enhanced programme to meet business and community needs. Together with additional funding, our aim is to increase the number of business development programmes to help support social enterprise across the City."
English Cities Fund, a joint venture between Muse Developments, Legal & General and the Homes & Communities Agency, is currently carrying out major regeneration work to the Chapel Street area in Salford.
Cllr John Merry, leader of Salford City Council, said: "The Creative Media Centre has given this building a new lease of life and will be a welcome addition to the ever evolving creative scene on Chapel Street.
"Our aim has always been to turn this area of Salford into a centre for the creative industries and a destination in its own right, making the most of the fantastic architecture and restoring it to its former glory. This is yet another step towards achieving that vision for the city."