A draft strategy for the centre of Preston has hinted the city council will support splashing the cash on the Bus Station.
Since the building achieved grade II listing in late September there had been silence from the Town Hall on whether they plan to proceed with their demolition option.
But Preston City Council leader Peter Rankin has told the Lancashire Evening Post the council will now abandon the demolition of the building.
He said: “We’re looking at ways with our partners to see how we can refurbish the building to a greater or lesser extent. We can’t afford just to leave it.
“It’s a huge challenge for us but I’m determined we will find a way of doing something to lever in some funding to improve the building.”
The City Centre Plan, published last week, outlines how the Bus Station forms part of the City Centre North development area.
It states: “It does not function effectively as one of Lancashire’s main transport hubs”
“Together with the County Council, the council is committed to improving the standard of bus station provision to bring it up to a level which is fitting for the largest centre in Lancashire.”
Later in the document it explains how the area needs a “modern, fully functional and accessible bus station to revitalise public transport service in the city centre.”
The council’s previous preference was the demolish the building, with Lancashire County Council making a pot of £8.3 million available to build a smaller bus station on the site.
Grade II listing of the building means any demolition of the building would be a costly and long-winded process, and Peter Rankin says he quickly ruled out any judicial review of Ed Vaizey’s decision.
Campaigners who want to see the building saved are set to march through the city centre on Saturday as they switch their focus on getting the councils to spend money on updating the Bus Station.
Council leader Peter Rankin appeared on BBC Radio Lancashire last month, at the time of listing, to outline how listing the building means modernising the bus station may further increase the costs of maintaining it.