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The North Quarter scheme will at first focus on Renfrew Street but it is hoped work will eventually link it to Speirs Locks and Port Dundas.
A report by Glasgow City Council says although Renfrew Street lacks identity, the area is home to 10 arts institutions including the Royal Conservatoire of Scotland, Glasgow School of Art, the Theatre Royal and the Royal Concert Hall.
They are comp-lemented by other venues including the Cineworld Multiplex cinema complex.