Mr Godfrey-Cass and Ms Robertson hope to continue with the gallery but said they need time to assess the damage.
They had intended to offer art classes for those in the area and wanted to engage widely with the community, but now they believe they may have to rely on the generosity of South Shields if they are to open.
“I think we are going to need some support,” Ms Robertson said, adding: “Whether it be donations of paint or people just having a better professional perspective on what it’s going to take to remove the amount of damage that’s happened.”
The Market Gallery plans to launch a crowdfunding campaign to help pay for some of the repair work.
Mr Godfrey-Cass, who moved to South Shields from Los Angeles, said he had not lost his love for the community despite the destruction of his work.
“I’ve been getting so much support and kind words – I’m not going to give up.”