The Phoenix Project is rising from the ashes, and is a delightful gathering space in the former Cobden Theatre.

The pilot project is the brainchild of residents Chelsea and Scott Wilkinson, who own the building, which was also a former kitchen and joinery shop. 

It boasts soaring ceilings and has been eclectically decorated with plants, artwork and comfy couches, and will be a new community hub, hosting live music gigs, creative workshops, spoken word events and other activities, with support from Corangamite Shire.

Ms Wilkinson said the project aimed to bring the community together for regular events, the first of which will be held on Thursday.

A blues and spoken word gig will feature Alister Turrill, Joanne Van Leerdam and Lowercase Poetry.

There will be Out of the Box Pizza and PJs Roast. The event kicks off at 6pm.

Ms Wilkinson said she put the idea forward as part of the state government's Pick My Project initiative, but was unsuccessful.

"The council contacted us and asked if there was a smaller version of the idea," she said.

"They were trying to come up with a way to reconnect the community after the fires. It's been a great collaboration process with the council and Progressing Cobden.

"It's a 12-month pilot project to see how people respond.

"We are testing the waters with when people want to come out. It will be interesting to see when people are available."

On Friday Cooper Lower and Joe Riedel from the United States of America will play from 6pm.

Over the next six months there will be six live gigs as well as classes for life drawing, polymerclay jewellery, macrame and botanical watercolours.

Mr Wilkinson said an upcoming gig with Daniel Champagne on Sunday, May 5 was not worth missing. 

The Phoenix Project is also working with Cobden Miniature Railway to host a Sunday market on March 17, April 21, May 19 and June 16. 

The markets will feature a mix of vintage wares, homemade and artisan items.

It will run from 11am to 4pm.

There will also be four movie nights at the venue, in collaboration with the Corangamite Film Society. 

"This building has a real nostalgic feeling for people in the community," Mrs Wilkinson said.

Back in its theatre days the building also hosted movie nights. 

Search for The Phoenix Project on Facebook for more information. 

Have you signed up to The Standard's daily newsletter and breaking news emails? You can register below and make sure you are up to date with everything that's happening in Warrnambool.