The money will see the refurbishment of the B-listed Saltcoats Town Hall, seeing the landmark returned to its former glory as the civic focal point for the town centre.
The quayside neighbouring Ardrossan will also benefit from the £4.5 million invested over the next year.
Around £1.8m will be spent developing Ardrossan North Shore and expanding the marina to provide commercial opportunities that will benefit the local community, with proposals for office and leisure facilities.
A further £500,000 will be invested in the redevelopment of Millport Marine Biological Station, which was previously threatened by closure. It is hoped the Scottish Government cash will cement the long term future of the research facility.
The Big Lottery are the scheme's other key funder.
North Ayrshire Council leader Willie Gibson said: "We are genuinely excited about getting work underway in 2014 and look forward to seeing the real and much-needed difference it will make to the lives of local residents."
North Ayrshire Council has already committed £1.9m towards the £3.5m restoration of Saltcoats Town Hall, which will create "a community and heritage hub" for the area, comprising a 200-seater civic hall, gallery, visitor information centre, registrars' functions, other civic space and base for local council services.
Vital repairs were carried out at the building last year, including fitting a new roof.
Big Lottery Fund Scotland has selected Ardrossan as one of just seven neighbourhoods in Scotland to benefit from the second tranche of its Our Place initiative.