Empty offices above a row of city centre shops are set to be turned into flats.
Nottingham-based ALB Group acquired the Moxon Island building, in Hanley, Stoke-on-Trent, last year for an undisclosed sum.
Now plans have been approved to transform vacant offices - above shops including Rowfers, Specsavers and Forbidden Planet - into 21 new homes.
ALB Group say the plans will help to regenerate the area.
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Arran Bailey, managing director at ALB Group, said: "The town has a desperate need for more housing, and this project will be vital to the wider economy in that area. By allowing more people to live in Hanley, it will mean that shops, cafes and restaurants will ultimately benefit from the increased footfall."
Arran added: "We are delighted that the planners saw and understood our vision for this project, and we hope that it will bring a much needed boost to the town."
The plans will see the empty site transformed within six months. It is expected that the new flats will provide buy to let investments for young working professionals, or for student living.
David Carnell from Swish - the architects behind the project - said: "Located right in the heart of Hanley, this redevelopment of a tired office block will provide town centre living raised above the busy streets, with everyday needs just a stone's throw away.
"With easy access to the train station to the south providing good services to Manchester, Birmingham and London, Hanley is the ideal place to live."
