The scheme, valued at £2.5m, will see a total of 27 new homes constructed for older people.
The development will include a mix of two-bedroom cottage flats and bungalows.
The properties have also been designed to be energy efficient and easily adaptable for tenants with disabilities. Work on the project, which is being carried out by affordable housing developer Wates, is expected to be completed this autumn.
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Councillor Sam Love received a tour of the site earlier this week and said: "It is great to see the new homes taking shape and we look forward to welcoming people into the properties later this year.
"This redevelopment is taking place in the heart of the community and will help to meet local housing needs.
"We'll continue to invest in new housing and maintain our support to the local economy through jobs and business."
Bill Coghill, Business Director for Wates Living Space Scotland, added: "This development further demonstrates our ongoing partnership with the council to deliver high quality, new homes for the people of North Lanarkshire."
The Scottish Government has contributed more than £810,000 towards the development costs of the Lanrig Road project.
(JP/MH)
