02/12/2015 10:41 EST | Updated 04/14/2015 05:59 EDT

Century-old Nova Scotia landmark to get $750,000 renovation

LUNENBURG, N.S. - The federal government is spending $420,000 to help pay for interior renovations to a century-old landmark in Lunenburg, N.S.

The Atlantic Canada Opportunities Agency says the money will be used to repair an improve the Lunenburg Academy, a former school that first opened in 1885.

The agency says the building, known locally as the "Castle on the Hill," will be altered to create space for culture-related businesses and organizations.

When the school closed in 2012, the national historic site was taken over by the Town of Lunenburg.

The town is contributing $180,000 to the project and another $150,000 will come from the Lunenburg Academy Foundation.

The restoration of the building started last April when Ottawa spent $64,000 on exterior repairs.