The funding will secure the former Debenhams building, with plans for a new health and wellbeing hub and city centre greening initiatives as part of Bangor's milestone anniversary celebrations.
Bydd y cyllid yn sicrhau hen adeilad Debenhams, gyda chynlluniau ar gyfer canolfan iechyd a lles newydd a mentrau gwyrddu canol y ddinas fel rhan o ddathliadau pen-blwydd carreg filltir Bangor.