Eildon Housing Association (HA) is proposing to develop the 39 units on the site of a former warehouse at Glenfield Industrial Estate.
The scheme marks the first step of a £40 million partnership programme between Scottish Borders Council and Registered Social Landlords (RSLs) to create 150 new extra care housing properties in the Borders region.
Nile Istephan, Chief Executive of Eildon HA, said the scheme will result in the regeneration of this site and creation of a "major community asset" for Galashiels.
"Eildon Housing is delighted to be working in partnership with Scottish Borders Council on this project, and hopefully others in the future, which will provide state of the art housing options for our growing older population," he said.
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Cllr David Parker said: "Alongside the RSLs, the Council wants to assist older and vulnerable people to live at home, and the most obvious way to do so is to increase the supply and availability of extra care housing as alternatives to current residential care home provision.
"It is estimated that over 60 per cent of people going into residential care could have avoided or delayed this if extra care housing had been available in their area.
"Our partnership programme, including our first proposed development in Galashiels, can help contribute to meeting the needs of the growing elderly population of the Borders."
Cllr Mark Rowley added: "The partnership programme is part of the Strategic Housing Investment Plan, which could see well over £150million invested into affordable housing over five years, with SBC and partners delivering up to 1,000 homes in that time.
"If approved, this development will be the exciting first milestone towards the partnership programme's target of 150 new extra care houses across the Borders."
(LM)
