Horwich councillors are supporting plans for 102 apartments to be built on the site of an old bleach works.
Redrow Homes has applied for planning permission to build the dwellings and at least 30 garages at an industrial site in Chorley Old Road which is currently home to Arcon Engineering.
Wallsuches Bleach Works were based at the site from 1775 until 1933 and if the residential plans are approved, then Arcon Engineering will re-locate.
Despite such large-scale housing applications often proving controversial in Horwich, councillors were impressed by the plans to transform the grade two listed building.
Cllr Barbara Ronson said: "The plans were fully welcomed by councillors but some members of the public are concerned about traffic problems.
"I think the plans are quite exciting -- a Grade Two building will be used to its best effect and I'm hoping that some of the old machinery from the bleach works could even be incorporated for heritage value.
"The existing building will look exactly the same from Chorley Old Road."
A spokesman for Redrow Homes said: "Subject to planning permission, we will be transforming this prominent industrial brown field site into a development of 141 properties, converting the existing stone buildings and building a small number of sympathetically designed new-build properties to create a small village within the Wallsuches Conservation Area, on the edge of open countryside.
"Great care has been taken in designing the development to retain and enhance the character of the surroundings."
The plans will now be considered by Bolton Council's planning committee.
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