The Broadford Works proposal would transform the Category A listed buildings at Maberly Street into 517 flats with a restaurant, nursery, shops and underground car park for more than 150 cars.
The eight-and-a-half acre site was the site of an arson spate last month and a dangerous buildings notice was served on the premises demanding that security be improved.
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Firefighters have been called there more than 15 times since 2009, at a cost of more than £22,000.
Two adolescent boys were charged with several counts of willful fire-raising and the council pledged to install CCTV cameras to protect the site.
Eleven listed buildings would be restored at the site if the plans are approved.
The former mill has lain empty for eight years since textile business Richards closed its doors.
Aberdeen City Council's planning chief Margaret Bochel has recommended councilors approve the plans once legal agreements are in place.
The local authority got four letters regarding the plans, two of which were objections.
Councillors will meet tomorrow to decide whether to give the plans the green light or not.
In 2004 the council rejected a previous application on the site, which had also been recommended for approval by planning officials.
(NE/GK)
