Planning permission and listed building consent has been granted to start the restoration of the Grade II* listed Madeira Terrace.
Brighton and Hove City Council's planning committee voted unanimously to grant permission at a meeting today.
The 40 Victorian arches between Royal Crescent and Shelter Hall will be restored in the first phase of the project.
The building is in "poor condition" and was one of Historic England's buildings at risk in 2020.
Council leader Phélim Mac Cafferty said: “The revitalisation of Madeira Terrace is one of the most significant projects on which the council has embarked for a long time."
The plans aim to repair and protect the cast iron, but also include the installation of new seating, lighting and a lift.
The lift will be installed at Royal Crescent Steps, allowing 24 hour access to Madeira Drive.
By removing some car parking, there will be more space on Madeira Drive for pop-ups for food festivals or live music.
The Terrace is the country's longest cast iron structure.
Cllr Mac Cafferty said: “The successful regeneration of Madeira Terrace will further re-enliven the eastern end of the seafront, with featured attractions and staged events appealing to residents and visitors alike.
At the meeting, Labour councillor Daniel Yates said that Madeira Terrace is "a jewel in the crown of the city".
Bill Puddicombe, chair of the restoration advisory panel, said: “The advisory panel are delighted that the planning application for the first stage of the renovation has been approved.
“An important milestone in the project has been reached. We look forward to seeing further progress very soon.”
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