Work will start on site next month to overhaul Marwood Tower for Liverpool Mutual Homes.
The local landmark is situated between Great Homer Street and Kirkdale Road and will house 81 modern apartments for over 55s.
The Marwood Tower scheme, designed by John McCall Architects, forms part of the new Liverpool Housing Partnership between Liverpool City Council, Liverpool Mutual Homes, Redrow Homes and Willmott Dixon to deliver 1,500 new homes and bring a further 1,000 back into use across the city.
A new arc around the base of the tower will be built that includes a courtyard garden and a community consultation exercise is taking place to decide the designs and features.
The old and new buildings will be linked by covered walkways that open in the centre of the courtyard.
Assistant Director of Development at LMH, Chris Bowen, said: “The Marwood Tower scheme is going ahead at great pace after planning permission was granted.
“Willmott Dixon has great experience in social housing and as our lead building contractor partner under the Liverpool Housing Partnership for bringing empty properties back into use.
“It is a complex scheme with just one point of entry so it will take longer to complete than a traditional housing development but we expect the work to be finished in autumn 2016, which will be a great achievement. ”
Stuart Belfield, Operations Director at Willmott Dixon, said: “We are delighted to have been appointed to redevelop Marwood Tower and play a role bringing precious empty properties back into use.
“We are particularly looking forward to making a difference in the community, creating local jobs throughout the works and delivering high quality housing that residents will be proud to call home.”