The news follows the announcement last April of a funding package worth over £7m to begin work on the 75 flats at the former William Halley & Sons premises in Broughty, Ferry Road.
A further 24 homes could be provided at the prominent city site, provided councillors agree an extra £2m of borrowing.
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Dundee City Council is backed by the Scottish Government's National Housing Trust (NHT) scheme and partnered by local developer Keiller Estates.
Jimmy Black, convener of Dundee City Council’s housing committee, said: "I am delighted that we have been able to increase to 99 the total number of new flats that will fill a gap for mid-market rented housing in the city.
"These are aimed mostly at people who are struggling to get a mortgage because of the credit crunch.
"In time to come the flats will be sold and sitting tenants may have an opportunity to buy them. The rents will be dearer than council rents but low for the private market. And of course the flats will be brand new, attractive and very energy efficient."
The flats are to be located at the old Wallace Craigie Works spinning mill, built in 1836.
(IT/GK)
