Mulbury has secured £20.1m of development finance from Wellesley Group to build its Excelsior Works scheme in Castlefield, Manchester.
The development of 108 apartments, being marketed for private sale, is due to start on site in May. A contractor will be appointed in late March.
The scheme will see the vacant site of a former Excelsior book-binding works in Hulme Hall Road transformed into a high-quality, eight-storey development adjacent to the Bridgewater Canal.