The transformation will provide almost 100 energy-efficient and affordable homes in the city, Glasgow Housing Association (GHA) has said.
Lowther Homes, part of the Wheatley Group and a sister organisation of the GHA, are due to complete the project at Ibroxholm Oval this summer.
The development will see 28 one-bedroom and 70 two-bedroom flats completed in the largest mid-market rental project in Glasgow.
The block was one of three scheduled for demolition by GHA, as part of regeneration plans for the area, but was given a new lease of life when the Scottish Government approved a £1.1m bid from its Innovation and Investment Fund.
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A further £1.1m was subsequently secured from the Community Energy Savings Programme partnership with Scottish Power.
Under the refurbishment, the overcladding on the outside of the block has been repaired, while new windows, kitchens and bathrooms have been installed. A stylish, new glass foyer at the front as also been constructed, while a combined heat-and-power system will heat the homes through a network of underground pipes. There will also be new lifts, secure parking and video entry.
Ms Sturgeon said: "This £7 million investment, including a £1.1 investment from the Scottish Government’s 2011 Innovation and Investment Fund, has rejuvenated this part of Govan.
"Despite Westminster’s cuts to our capital budget the Scottish Government remains committed to regeneration and is doing everything it can to stimulate growth and deliver more affordable houses for people across Scotland.
"Open to all suppliers, the 2011 Innovation and Investment Fund has provided more than £111 million of investment, supporting over 3,400 new affordable homes.
"Together with further government funding provided to Glasgow City Council, thousands of new homes will be supported through the fund."
(JP/CD)
