Social enterprise and housing developer Home Group has secured an investment of £660,000 from the Homes & Communities Agency towards its Ehen Court development in Egremont, Cumbria.
The funding means the £2.8m social housing project, designed for those aged over 55, will now go ahead.
The development consists of 22 two bedroom residential flats, a communal lounge and an office with a scheme manager service.
The new flats will be built at the site of a now demolished sheltered housing complex on Ehen Road.
Copeland Council approved planning earlier this year and Thomas Armstrong Construction was appointed to build the property.
Building work is expected to start at the end of January, with completion targeted for approximately one year later.
Elsa Brailey, Home Group's acting head of development, said: "Home Group aims to become a top ten house-builder in the next ten years and we're absolutely committed to supporting communities where people want to live. Everyone in our Whitehaven office was delighted to receive this news. These flats have an excellent location – right in the town centre – and we look forward to seeing our contractors on site later this month."
Anyone interested in the properties should call Home Group's advice centre on 0845 606 3033.