A CONSORTIUM of developers and architects from Liverpool now owns the part-built City Reach apartment block on the outskirts of Barnsley town centre.
Superior Living Limited has taken ownership of the building, at the junction of John Street and Burleigh Street, and intends to submit amended plans in the next two to three weeks.
This will be to make minor amendments to the existing approval to remove about 10,000 sq ft of retail and leisure space on the ground floor.
Agent Paul Jackson said the commercial aspect will be replaced with cheaper apartment units.
He said: "The new owners are a consortium that has come together who are dedicated to taking on buildings like this one.
"At the moment we're dealing with a few bits and will probably resubmit some amendments, nothing drastic, in two to three weeks and are looking to start shortly once planning permission is in place.
"We're looking at some bits about the commercial part which we don't think is the right area for because commercial stays empty in the best of places.
"We're wanting to put in a few extra things for residents too such as a gym and creating a bit more of a ground floor area and seating and somewhere for a concierge to be based."
He said the new owners will be cutting back on the materials planned to be used under the original development.
"There was a huge palette of materials being used in the building at one stage when it was being developed, which was during the boom, so we are cutting back slightly."
The concrete skeleton sold at auction in October for £375,000, having originally been valued at £11 million when it was conceived seven years ago.