After 25 years, the Royal National Mission to Deep Sea Fishermen closed its doors in Eyemouth in 2012.
Now the former granary building is being turned into an arts centre, run by a community interest company.
Once the ground floor alterations are complete, it is hoped the venue - the brainchild of artist Paula Tod, and her husband Ian - will open in June.
The first theatre performance - A Cinema in South Georgia - will tell the story of Eyemouth's whaling pioneers in the South Atlantic.
The Hippodrome will also contain a cafe selling local whole foods and was last week granted an alcohol licence.
All of the programme details should soon be available on a website and Facebook.

The Australian, 21, beat world number 29 Querrey 6-4 6-4 in 53 minutes to progress to the second round.
Kyrgios, ranked a career-high 12th in the world, won the Japan Open on Sunday and is closing in on the top 10.
"I was just a bit bored at times," said Kyrgios, when asked why he was not his usual vocal self against Querrey.
"I was feeling very tired. It was just tough. I'm just tired so maybe I just wanted to get the job done."
Kyrgios said his success in Japan, and the travelling involved in playing at the Qi Zhong Stadium, an hour from Shanghai city centre, had taken its toll.
"I didn't have the greatest sleep last night and obviously got in late the day before," he said. "The ride to the courts isn't great either."
It was at the Shanghai Masters last year that Kyrgios was fined $1,500 (£984) for a foul-mouthed outburst, describing the tournament a "circus".

Flames could be seen shooting from the roof of Scotway House, close to the city's Riverside Museum, after the fire broke out on Friday evening.
The Scottish Fire and Rescue Service sent a number of appliances to the scene.
There were no reports of injuries, and the nearby Riverside Museum was not damaged.
Scotway House is located on a large plot of wasteland west of Yorkhill Park.
It was built in 1885 as a drawing office for ship building firm D&W Henderson at the Meadowside Shipyard, and is a category B-listed building.
The building has been empty for about 20 years. Since the doors were closed it has been considered for a pub and restaurant development and a music venue.
Last year plans were submitted to convert the building as part of a student housing development on the site.
The Glasgow Harbour area is currently undergoing a major redevelopment.

There is an armed police presence at the Donington Park rock music festival in Leicestershire in the wake of the London and Manchester terror attacks.
Senior officers have been encouraging fans to still engage with police and are using the hashtag "copaselfie".
Thousands of fans watched American metal band System of a Down end the first day of the festival on Friday.
A spokesman for Leicestershire Police said posing for selfies with armed officers was "safe" and they have had an "amazingly positive response" from the public.
Supt Martyn Ball, from Leicestershire Police, said on Thursday that armed police would help make people feel "safe and secure" following the recent attacks.
He added that some parents had been in touch saying their children were considering not going unless there were armed officers.
However, he said this would not change the way the force interacted with revellers.
Downloadcops, which post messages to help fans at the festival, tweeted: "@PRTLeicsSgt with a gentleman that just gave us a wonderful poetry rendition. Sgt Waft is now taking on the night shift. Enjoy."
Leicester City Cops also tweeted: "Hello from the cops at #DL2017, please don't hesitate to come over, say hello! #copaselfie with us! ðŸ˜ˆ #Download".
About 80,000 people are expected at Download over the weekend.
The festival, held at Donington Park in Leicestershire since 2003, has hosted some of the biggest names in rock including Iron Maiden and MotÃ¶rhead.
Organiser Andy Copping said Download was the "biggest" of its type in the world.
He told The Beat programme, broadcast on BBC Local Radio, that Download was also the "friendliest".
Biffy Clyro are headlining the main stage on Saturday night and Aerosmith, who are said to be performing for the last time in the UK, are the top act on Sunday.
A former fishermen's mission in the Scottish Borders is being converted into an arts and performance centre.
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Nick Kyrgios said he was "bored" as he extended his unbeaten run to six matches with victory over Sam Querrey at the Shanghai Masters.
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Firefighters have put out a major blaze which swept through a derelict listed building in Glasgow.
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Police at the Download Festival have kept their promise and have been posing for fan photos despite extra security.