The building is a famous landmark in Bradford
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An £85m project to convert a former silk and velvet factory into homes, shops and community facilities is to go ahead.
Developers Urban Splash are to start the ten-year regeneration scheme at Lister's Mill in the Manningham area of Bradford later this year.
The old textile complex has been targeted by arsonists in recent years.
Bill Maynard, from Urban Splash, said it had taken a lot of time and effort to get the project off the ground.
He said: "We acquired the site three years ago to try to convert it into exciting new uses.
"After much hard work with our partners we are about to start."
He added there were plans to use the building for both commercial and residential purposes.
The original Lister's Mill was founded by Samuel Lister in 1838 but was destroyed by fire and rebuilt in 1871.
The replacement was once the biggest textile building in the north of England and employed over 11,000 people.