Brierfield Mill in East Lancashire is to become the location for a retirement living scheme, with the conversion of part of the building into 60 one-bed, self-contained apartments.
The scheme is being developed by a joint venture between Barnfield Investment Properties and Pendle Council known as Pendle Enterprise & Regeneration, on behalf of elderly care start-up Evermore Wellbeing as part of the wider redevelopment of the Brierfield Mill site.
Each apartment will have a double-bedroom and en-suite bathroom, living room, kitchenette, and balcony and will be clustered into households of 12 with each household sharing communal living area and hearth.
Pendle Enterprise & Regeneration unveiled plans in December for the conversion of the 380,000 sq ft Brierfield Mill into a hotel and apartments, along with restaurants, art gallery and shops, with the development renamed as Northlight.
The joint venture bought the derelict mill for £1.5m in March 2012 from local charity Islamic Help after a proposal for a girls' school failed to secure funding. The acquisition by the council and developer was fully funded by the Homes & Communities Agency.
At Northlight, there will be a marina with 50 berths, a business centre and activity centre in the grounds next to the main mill building.
Construction of Evermore at Northlight is expected to begin in autumn 2014 with sales commencing in spring 2015. Evermore said that it was the first village of at least 20 communities due to be built by 2020.
Tim Webber, managing director of Barnfield, said: "We're excited about having the ground breaking Evermore proposition in Lancashire first, and in such an iconic local building. The Evermore concept combined with the fantastic regeneration of a landmark building will set the standard for what we demand of housing in later life."
Sara McKee, chief executive of Evermore, said: "Evermore's philosophy is about providing older people with fantastic lifestyle opportunities in the heart of the community they know and love. With amenities including a hotel, business enterprise centre, recreation facilities, restaurants, and a marina, I can't think of a better location for our first village than Northlight."