The National Construction College (NCC) has won £17m of funding, which should be enough to secure its future if a planning application to raise £4.3m is successful next month.
The package, agreed by the Learning and Skills Council, is conditional on the college finding this amount from the sale of 24 houses. The college will not know if the application has been successful until 5 November.
A second application will be heard by King’s Lynn and West Norfolk council on the same day. This is for work to improve the college’s accommodation, sports, IT and research facilities.
Andy Walder, the commercial director of the NCC, said 5 November was “the next big hurdle”.
“The funding is a big step forward and the hard work has been worthwhile. While there is a lot more to come, we are very positive that we will get there.”
Walder said the college would name a preferred contractor in June or July if the applications were successful.