Place First's Woodnook private rental development in Accrington is due to feature on the BBC's Britain's Empty Homes programme on 18 October.
The Didsbury-based developer is working in conjunction with Twin Valley Housing on a scheme to transform 100 vacant properties into 71 two-, three- and four-bed rental properties.
Funding for the development includes £2.7m from the Get Britain Building scheme, equity from Place First and Twin Valley Housing and bank lending.
The properties are intended to meet the needs of people who cannot afford to buy a property but do not want to rent social housing. They are predominantly aimed at families and utilise energy efficiency systems which are expected to halve energy bills.
Place First associate director Martin Ellerby said: "We are not looking to sell these properties, the intention is to offer them as high quality rental properties."