A planning application has been approved by Ashfield District Council to convert Station House on Outram Street into 28 apartments and two retail units.
The application, made by Sheffield-based Beres Developments, will see 14 one bed and 14 two bed flats developed on the site.
The premises were destroyed by a blaze in January 2008 and have stood empty and roofless ever since.
As part of the development, Nottinghamshire County Council suggested that free introductory bus travel should be provided.
The application also includes 4800 square feet of retail space on the ground floor, although it is not yet known what retailers will move into this space.
The apartments are aimed at young professionals and couples, and will be ‘relatively affordable’.
A planning application was submitted for the site in March 2008, and was withdrawn in June of that year on the advice of the planning officer, due to design issues, which have been resolved in this application.
Economic difficulties have been blamed for the application being resubmitted ten years later.
The five-storey building will also have 29 parking and 28 bike spaces in the basement.
Each apartment will have floor to ceiling windows, and a balcony made from coloured glass to give a ‘lively’ appearance.