The first phase is due to start on site in 2026 and complete in 2028, with the next phase expected to commence in 2029.
Councillor Anna Charles-Jones praised the accessibility of the development, which includes 59 new homes that are designed as accessible and adaptable dwellings.
She said: “There is an accessibility gap with the number of accessible homes and the number of people disabled.
“The disability group is one minority group you can become a part of at any point in your life, and the whole point is that these homes can be adapted for anybody so that they can stay in their home.”
Councillor Rachel Wise acknowledged the concerns that come with building on brownfield sites but highlighted the “immense improvements for residents in Stockport”.
She said: “I think it’s the right thing to do to bring disused industrial space back into meaningful community use, so having people live there, community units on the ground floor, I think is very strong.”