Redbridge Council is planning to build a state of the art theatre complex in Ilford.
The Kenneth More Theatre will be demolished and replaced with a multi-purpose, six-storey building in Oakfield Road.
Like a leisure sandwich, a 900-capacity theatre will be positioned between a basement swimming pool, and a library full of books above.
There will also be room for a college campus on the top levels and officers are in talks with accredited university providers.
The council hope the new facility will be finished in five years and once completed, Redbridge Central Library will be relocated in the building.
The library site in Clements Road, has the potential to be then converted into housing which the council is planning rent out to residents at "affordable rates".
There will also be provision for a GP and a school.
Council leader, Councillor Jas Athwal said: "If we don't build something new with multiple purposes, in the near future libraries and leisure facilities will close.
"We need to consolidate council resources and create a centre for all the community, otherwise they will be lost."
Redbridge Council is drawing up plans for consultation.
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