The project will get underway after it was announced that Renfrewshire Council had officially taken ownership of the A-listed building and secured a long-term tenant. It was previously agreed that the local authority would rent most of the former health centre building to Skills Development Scotland (SDS).
Around £4.5m will now be invested in the historic building to transform it into modern office space, which is being funded by the council, Historic Scotland and the Scottish Government's Regeneration Capital Grant Fund.
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A contractor for the scheme is expected to be appointed shortly.
Upon completion, it is hoped SDS will move into the premises by summer 2016. The organisation will be the anchor tenant of the training and employability hub, and create around 80 new jobs into the town centre. The building will also house staff from Renfrewshire Council's 'Invest in Renfrewshire' scheme.
Councillor Mark Macmillan, Leader of Renfrewshire Council, said: "The Russell Institute is one of the most magnificent pieces of architecture in a town centre which has no shortage of landmark buildings.
"Council staff have been working away for a couple of years now on a plan to bring it back into use and we are delighted that is now coming to fruition.
"A year ago we unveiled a set of ambitious proposals intended to use Paisley's outstanding heritage and cultural assets to transform the area's future.
"The progress on the Russell Institute is one of the first visible signs of that transformation on what will be an epic journey of regeneration for the town."
(JP/CD)
