The former Bedlington Old School on Church Lane is situated in a high profile location, elevated above Bedlington Front Street.
Arch and its successor Advance Northumberland has delivered the scheme, which has created 18 two-bedroom apartments for rent targeted at the over-55 market.
They have been highly sought after and all 18 apartments are allocated, subject to references and viewing.
The first tenancies are due to commence soon, with full occupancy anticipated by the end of November.
Arch chairman Richard Wearmouth said: “I am very pleased to see the new development is now ready for occupation – this is a positive step forward for the town.
“It will help with regeneration of the town centre, providing high-quality accommodation for rent.
“We are pleased that this has been such a popular and sought after scheme.”
Each apartment has fitted kitchens and an allocated parking bay. In addition, they are decorated and include carpet and flooring throughout.
In a joint statement, Bedlington’s Independent county councillors Malcolm Robinson, Bill Crosby and Russ Wallace said: “After many years of neglect, we are pleased the development of the site is now complete and that it will provide high-quality accommodation for a sector of the housing market not currently catered for in the town.”