The former Conference Centre of the Hilton Treetops Hotel in Craigiebuckler will become 44 retirement apartments for the elderly.
The site had previously been granted a planning consent to develop residential apartments for sale to the general market but the development failed to progress because of the economic downturn.
Redevelopment of the site will begin with the demolition of the existing Conference Centre expected to start in the autumn.
McCarthy & Stone managing director for Scotland, Stephen Wiseman, said: “From the outset our development has been sensitively designed to provide a prestigious, contemporary building that can be enjoyed by both residents and the community alike.”
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