Some €16m in funding has been made available to start the regeneration of Dolphin House in Rialto Dublin in the new year.
The 1950s flat complex in the south inner city has been plagued with issues including sewage problems and burl=554131]damp[/burl] for years.
Its redevelopment was stalled due to the economic crash.
Local Labour councillor Rebecca Moynihan has said work can finally get underway in 2015.
"Funding has been made available for it," she said. "We have passed planning permission for the initial stage of the regeneration - the demolition of the two blocks nearest Dolphins Barn and the refurbishment of two blocks adjacent to the Grand Canal."