The developer is restoring a historic building on King Street that was once home to the Stretford Conservative Club to create 13 luxury flats.
Once complete, the building, known as The Bank, will include 13 one-bedroom apartments and one two-bedroom apartment, and a commercial unit for rent on the ground floor.
Of the flats, three will be duplexes with their own private staircase to the second floor.
The scheme in Greater Manchester is targeted to complete by May 2021, according to the developer.
Wigan-based developer and construction firm The Heaton Group is conducting all parts of the build itself with no main contractor appointed.
The Bank, which was originally known as Derby Hall, was home to Stretford Conservative Club for many years before its conversion to a retail premises and later a bank.
The site has stood empty since the bank closed in 2016 and had fallen into disrepair.
Chris Holland, director at The Heaton Group, said: “We see ourselves as custodians of heritage and character, preserving the best bits of local icons while providing habitats for lifestyle living.
“We expect these apartments to be popular with those looking to invest in Stretford as the UK rental market is forecast to grow by over one million households over the next five years.”
Smart technology will be installed throughout the building, enabling simpler management and lower costs, the developer said, while storage for 10 bicycles will be provided on the ground floor.