The Department for Social Development granted £1.3million towards the £4.6million refurbishment and restoration of the factory.
This investment boost to the Sandy Row area will transform and significantly improve the area with considerable benefits for the local people. The new development will provide:
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•2,512 sq metres of commercial floor space;
•potential for up to 150 full time employment opportunities; and
•150 metres of improved street frontage.
Mr McCausland said: "This is great news for the people of the Sandy Row area. I am pleased that my Department has been able to provide the much needed financial support towards this high profile development. The restoration of this former tobacco factory has brought significant environmental, social and economic benefits to people in this part of Belfast.
"For many years this part of the city has suffered from a lack of investment and regeneration. This refurbishment is changing that. It is changing it for the better."
The £4.6 million scheme, by local developer Mayville Ltd, will bring much needed private sector investment to Sandy Row.
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