Developers Mansfield Gate Ltd say they have now sold around 75 per cent of the one and two-bedroom apartments, located on Stockwell Gate.
The project ground to a halt in 2011 when former development company Highgrange Homes Ltd went into liquidation.
But the project was taken over by Mansfield Gate in February and the complex should be completed by early 2014.
Alan Forsyth, co-director of Midland Gate, said: “We are confident with the location and the price that the remaining apartments will go very quickly.
“Our biggest hurdle was making the site waterproof and we had a bit of delay from the utility companies, but we hope the development will be completed by February at the latest.”
The first 39 properties are now ready for sale and start from around £60,000. The development will have parking for around 80 vehicles and is close to bus and train stations.
The factory closed its doors in 2004 with the loss of around 50 jobs and the building was finally knocked down in 2006.
Mansfield Mayor Tony Egginton said the development will be good for the town’s economy.
He said: “We’ve worked with the liquidators and got people on side. We even looked at whether we needed to step in and buy it. My role in this was to make sure that it didn’t become another General Hospital site.”
For sales enquiries call 0844 8004430.
PICTURED: Mayor Tony Egginton discusses the new apartments with Andrew Littler from Mansfield Gate Ltd, who are completing work on the flats at the site of the former shoe company building in Stockwell Gate.