Translink was allocated the funding from the Department of Communities.
It is part of a £500,000 investment to revitalise the area ahead of The Open Championship in 2019.
The investment will also see £250,000 respectively, provided to Causeway Coast and Glens Borough Council to take forward the design of a public realm scheme for Portrush Town Centre and the train station.
Communities Minister Paul Givan said: "My Department is providing £500,000 to commence work on these two key projects; both of which have been identified as high priorities in the town's regeneration strategy. The views of local people in the development of these design plans will be crucial and I would encourage all those with an interest to engage with the design teams in future consultations during what is an exciting and important period for Portrush."
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The Minister visited Portrush after officially opening the £1.5 million public realm improvement scheme in Portstewart which transformed the entire Promenade area.
The scheme was funded in partnership with Causeway Coast and Glens Borough Council and involved the replacement of the existing footways with new high quality surfaces; improved street lighting and the replacement of the existing promenade railings with a high quality stainless steel balustrade along the entire length of the seafront.
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