In a statement, the local authority said Westpoint Homes have now released prices for their Abbey Place apartments which are located in Gauze Street – the third phase of its popular Cloisters development.
Construction work started at the beginning of the year and the four/five storey structure will house 23 one and two-bedroom apartments when completed.
Councillor Mark Macmillan visited the site and said: "For companies like Westpoint Homes to be building developments of this size in the town centre demonstrates private-sector confidence in Paisley as a place to invest.
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"These new flats mean new residents – and by bringing people back into Paisley to live, we anticipate knock-on benefits for the businesses already here.
"This section of the town centre is being transformed, with Abbey Place taking shape at the same as time as work starts on a combined housing and retail development over the road on the former Arnotts site.
"We believe these developments show that the council's wider vision over how to regenerate the area is winning support.
"The next few years will be an exciting time for the town as we move forward with our plans to attract multi-million pound investment to support heritage-led tourism."
Development on the site of the former Arnotts store is taking place in three phases, and will include both housing and retail facilities. Phase one is currently under way, with 31 new flats in Lawn Street being taken forward by Link Group with Westpoint as the contractors, due for completion in summer 2015.
(JP)
