Concepts for the future of Berkshire House were revealed at the Transforming Maidenhead event held by the Royal Borough and Partnership for the Rejuvenation of Maidenhead on Friday.
The building was the first purchase by build-to-rent developer Essential Living, which will convert it for private residential use.
Its transformation should come as good news for so many people who see the building as an eyesore.
Development manager, Nick Cuff, said his company hoped it would be something that the people of Maidenhead could be proud of.
He added: "We're working hard on the design and both the council and local people have been very clear that they want something in the centre which represents that Maidenhead is a town with an exciting future."
The development will be undertaken around the existing frame of the tower block, converting the existing spaces into private rental homes.
Essential Living is currently working up design concepts and intends to start consultation over the coming weeks, before submitting a planning application in the summer.
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The victim of an assault in Cippenham was flown to hospital by air ambulance this afternoon.
A rapid response vehicle, an ambulance officer, an air ambulance and an ambulance crew were all called to an address in Earls Lane at 2.10pm.