The Council, along with development partner hub West Scotland, are proposing to develop the site of the former Tom Johnston House.
The Place, Neighbourhood and Corporate Assets committee approved the concept design and agreed to move the plans on to the detailed design and market testing stage with a planning application to be lodged later this month.
It is anticipated that approximately 75 homes will be social rented council homes, with around 12 further being made available for shared equity purchase.
Eight homes from the social rented properties will be developed to be fully wheelchair accessible. This is double the number indicated as part of the feasibility study and is representative of the Council's efforts to meet the future needs of local residents.
In addition to the wheelchair accessible homes, a further eight will be developed with additional amenity to support residents with mobility issues.
Councillor Billy Hendry, Convener of the Council's Place, Neighbourhood & Corporate Assets Committee, said: "I am delighted to see this project move on to the next stage.
"This proposed development will help increase the stock of council housing in the area at a time when the demand for affordable homes continues to grow.
"The addition of over 70 high quality council houses will help meet the needs of local people who are finding it difficult to get onto the housing ladder.
"Offering some properties for sale will encourage a mix of tenants and can contribute to a greater sense of community while also providing an opportunity to residents who may not be able to afford to buy in the open market.
"The wider community will also benefit from this development in terms of work and training opportunities which it will bring to the area."
The Council has previously partnered with hub West Scotland in the delivery of multiple projects including Holy Trinity Primary School and Kirkintilloch Town Hall.
Iain Marley, CEO of hub West Scotland, said, "It's fantastic that the project has reached this key milestone and are we are able to share details of this very high quality development and explain how it will enhance the local area. We are looking forward to taking the project into the delivery stage and fulfilling hub West's commitment to ensure that the local community benefits as fully as possible from business, employment and training opportunities."
