The Castlemaine State Festival hopes to move into its new headquarters by May.
A new creative industries hub located in the Goods Shed in Kennedy Street is close to completion meaning the state festival will relocate and share the new asset with the region's arts community.
Goods Shed Arts will operate as a centre for creative activity where the state festival will develop works in various artforms for events throughout the years as well as the biennial event.
Castlemaine State Festival general manager Krista Horbatiuk said the Goods Shed had already served as an important part of the 10-day festival held every two years.
"At the beginning of 2016 the festival took over the building on a lease from VicTrack with the intention to develop it as a headquarters and make it a space for offices as well as a community (centre) for arts purposes across the board," she said.
"We're now to a point where ready to launch expressions of interest and see what people want to come to work in the space, hire it or partner with the festival.
"The idea is we want to create a certain type of community happening at the Goods Shed."
The state festival raised $1 million through local, state and federal government support, along with $200,000 of private and philanthropic contributions, to transform the space.
"It was a long term vision of the board and previous director that this would ensure sustainability for the festival and (give us) an asset to use to help us generate revenue as well as facilitate arts," Ms Horbatiuk said.
"They started building in about August and at the same time we have Castlemaine Circus tenanting one half of the building, so we will move in and share space with them."
Goods Shed Arts will off a large creative space for rehearsals and presentations, a studio room, a meeting room, communal offices and work spaces, and an event space.
"We're finding that the community really craves arts activity (and we) can bring that to town in an ongoing way," Mr Horbatiuk said.