Westminster Properties (Scotland) Ltd's scheme is on Lytham Road and comprises six two and three bedroom apartments, including two penthouses.
The company has now sold all the apartments off plan, which ranged in price from £180,000 to £260,000. Work on the development is due to complete before the summer.
And it has received backing from Yorkshire Bank whose financial solutions centre in Preston has helped fund the scheme.
Andy Nurse, business banking partner at the centre, said: "Yorkshire Bank has worked with Westminster Properties for several years and the Lytham Road development was another success for the company after it sold all the apartments off plan.
"They have proved themselves to be proficient developers and I am sure Yorkshire Bank will maintain its long-standing support of the business and its projects."
Westminster Properties, which was originally founded in Scotland but is now based in St Annes, was established by co-directors David Moseley, John Davidson and James Cammell seven years ago.
The company has been behind several major developments across the North West, including one scheme to demolish the Grosvenor Hotel on Morecambe Seafront, which was developed into 46 new apartments.
Westminster Properties is now working on a scheme, subject to planning permission, to redevelop Burn Hall in Thornton into a 30-40 house development and a 60 bed care home.