Greenacre Properties is converting Tower House in Whitechapel, east London, into more than 100 flats.
The company will also provide 30 low-cost homes and 30 flats for homeless people off-site as part of the deal.
The main property will feature secure car parking and penthouses as part of a £10m rebirth for the former doss house.
The Guardian 18/04/01 page 5 (Society)