Elisabeth Mill in Reddish, Stockport, has become a ‘magnet’ for vandals in recent years, with teenagers smashing windows and throwing bricks and concrete slabs onto the street below.
The building was at the centre of anti-social behaviour last summer, with up to a dozen incidents a week.
The latest incident saw a gang on bikes squirt petrol onto the road in front of cars and set it alight earlier this month.
De Trafford Estates Group is now set to convert the mill into 150 plush apartments as part of the Elisabeth Gardens project.
The Grade-II listed building was commissioned by businessman Sir William Henry Houldsworth in 1874 but has been empty for more than a decade.
Schemes in other Stockport mills, legacies of Stockport’s industrial past, have seen hundreds of new homes built.
The project will also complement the Houldsworth Village regeneration scheme which includes the Broadstone Mill Shipping Outlet.
The adjacent Friedland Building, built in the 1980s, will also be transformed into 50 homes and a marketing building.