Around 125,000 sq ft of office and call centre space is to be created at this former mill in Swinton, Salford, with funding from the North West Development Agency.
Building owner Vanguard Holdings will receive £430,000 from the NWDA towards a £3m refurbishment of Newtown Mill, built in 1883.
Steve Broomhead, chief executive of the NWDA, said: "By investing in these improvements we can provide the type of modern office accommodation which is attractive to the market, and most importantly will safeguard and create jobs in Salford.
Once complete, the mill will feature a restaurant, coffee bar, conference facilities, gym, squash courts and a lounge. There will be a training facility and space for around 250 cars on-site.
Mac McCullagh, managing director of the Vanguard Group, said: "This is a speculative development but we are confident that the market is there based on the research we have done. Funding from the NWDA will mean that we can realise our plans for the site and create a superior development which will bring new jobs to Salford."
The building is due to be ready for occupation in November.