The centre, next to Sunniside Gardens in the Sunniside regeneration area, is made up of an exhibition space, a cafe, meeting rooms, artists' studios and offices.
Central Sunderland is home to more than 160 listed buildings and thePlace comprises six refurbished grade II listed buildings as well as a new-build complex.
The Sunniside Partnership, set up by Sunderland City Council, Sunderland Arc, English Partnerships and One NorthEast, drove forward the plans. Director Ben Hall said: "The centre is a fantastic building that will help to attract further investment into the area. It is providing high-quality, modern business and artistic space in a beautiful setting."