Regeneration of Sheffield’s Park Hill flats is now due to be completed by 2022 - 15 years after work first started.
Developers Urban Splash has secured a revised agreement with Sheffield Council to complete the final phases of the Park Hill project in five years.
It is understood that it is hoped that work will begin in earnest next year, with plans for completion by 2022.
The next phases of the scheme will now include 210 residential properties, 330 student housing units and 130,000 square foot of commercial space.
There will also be provision for the S1 Artspace Project.
The once-notorious 1960s concrete block was condemned as an eyesore by the 1980s and became associated with drug problems and crime.
Building work on the redevelopment started back in 2007 but was delayed by the impact of the global financial crisis.
The first phase saw properties eventually released for sale in 2011/12 but the completion of the 260 homes and 10 ‘creative workspaces’ for digital and creative businesses was only finally completed in 2014/15.
There are currently 600 people living in the flats.
Simon Gawthorpe, managing director of Urban Splash, said: “This is great news for us and for Sheffield – it means we can complete the project we started in 2007.
“We can now, alongside development partners Places for People and Great Places fulfil our ambitions for the project.”
“Our aim is to create a new quarter for the city of Sheffield where people want to live, work, play and visit.
“We are proud to have realised some of that potential with the completion of the first phase, and it’s great to see a new mixed multi-generational community putting down roots there again.
“The current plans provide a sustainable future for Park Hill adding students and arts and culture to the community to create a place of national significance for the city.”
Councillor Mazher Iqbal, cabinet member for Transport and Infrastructure, said: “These plans provide the momentum to move forward with the scheme, securing the completion of the Park Hill development. It is great news Urban Splash have brought forward a viable and workable plan.”