The Art Gallery of Nova Scotia in Halifax, Canada, is moving to a new waterfront location in the city after reaching an agreement for provincial and federal government funding.

Set to cost in the region of CA$130m (US$96.7m, €86.4m, £74.7m), the gallery will receive CA$70m (US$52m, €46.5m, £40.2m) from the Nova Scotia government, CA$30m (US$22.3m, €19.9m, £17.2m) from the Canadian government and will privately raise the remainder itself.

The new building will stretch across an area of 13,000sq m (139,931sq ft), almost doubling the current building’s size and freeing up more space to exhibit the gallery’s permanent collection of more than 17,000 works in larger public areas.

"We’re committing funding on behalf of the people of Nova Scotia," said Nova Scotia premier Stephen McNeil.

"Not only will we build an iconic building, but we will build a world-class building that represents how much we appreciate and value the cultural sector and the arts in our province.

"I can’t think of a better place than finding a location on our waterfront."

Halifax architectural practice Architecture49 drew up plans for a cultural hub at a waterfront location last year, which includes the gallery itself and a new building for NSCAD University, a local art and design college.

These plans seem to have been at least shelved for now with McNeil’s proclamation on finding a new design and his further assertion that the college building isn’t ready to move yet.

Gallery CEO Nancy Noble, meanwhile, was confident of raising the extra funds needed, saying: "We’ve had some quiet conversations with certain people who have a passion for the art gallery and are long-time supporters.

"Between that and our community consultation, there was a great deal of support and we’re really confident that will show up in the capital campaign.

"We really do want to play a big role in the region but also in the country. I have a vision for this gallery – a strong one."