The development has not been without controversy though, with residents in the area worried about the background of those given tenancies after the collapse of the housing market forced the abandonment of the original private apartments project.
But, this morning, the former south Belfast cinema complex was welcomed as having been given a new lease of life.
Social Development Minister, Alex Attwood was even joined by faux cinematic icons, in the guise of big screen heroes such as Clint Eastwood, Audrey Hepburn, Marilyn Monroe and Indiana Jones as he marked the official opening of the new 42-apartment development.
The apartments have instead been allocated to people on the social housing waiting list.
The different religious and cultural background of tenants will ensure a shared future for tenants according to Minister Attwood, who said: "I welcome the launch of this new 'shared' residential development at the Curzon.
"This builds on the efforts in the area and other areas to create a new order of things. At times it is difficult, even perilous, but it is the certain way to go.
"I commend all the tenants who have signed up to be part of the shared ethos of the area, thus consolidating the work that has already been delivered in the Ballynafeigh area through the Shared Neighbourhood Programme.
"The Curzon scheme goes beyond meeting housing need. It is part of a new future for housing in Northern Ireland.
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"The people who live in these developments know they are not utopias devoid of problems, however, I firmly believe that shared housing offers a great opportunity for a more inclusive and sustainable future for our society," he said.
Speaking at the event, Clanmil Chief Executive Clare McCarty - who were given permission to buy the failed complex last spring for social housing tenants - added: "There has been 100% sign up to the shared futures initiative by our tenants who all share a common goal - the desire to live together in a peaceful and secure environment, respecting their neighbours.
"These families are helping to shape the future of housing in Northern Ireland and we wish them well as they settle into their new homes and new community."
The Clanmil group - first entered into talks to buy the apartments in the prestigious Curzon development on the Ormeau Road back in November 2008 amid a global property market slump.
The decision split the south of the city with some hailing the deal as a "unique" commitment to battling social housing provision in south Belfast, while others maintained the prestigious private development was not suitable for social housing tenants.
The local Ulidia Residents' Group said they hadn't been properly consulted and were concerned about who might move in.
"We are concerned about the impact on existing residents of the new amount of residents who are going to be coming in and how this will be managed," said a spokeswoman, in May 2009.
The group insisted the apartments are not suitable for families and they also fear that people who are put out of other areas might be placed on the Ormeau Road development.
Speaking last year, NI Housing Executive Director Colm McCaughley rejected this suggestion.
"This was an opportunity we had to take at a reasonable price to the tax payer. We have a series of applicants who have been waiting many, many years to be rehoused in this area," he said.
However, it was all smiles today as the Minister, Alex Attwood was introduced to one of the new tenant, Katie Whyte, who showed the Minister around her new home.
Katie said: "We've all settled really well in our lovely new homes. The apartments are modern and bright and in such a great place, so close to the city centre with everything you could need.
"Although myself and the other tenants may be different from each other in some ways, everyone is getting on well together.
"This is how I want my family to live and I'm sure the other tenants feel the same way. I don't really think about it as shaping the future, it's just a lovely place to raise my son."
Alex Attwood added: "The New Housing Agenda launched by my predecessor Margaret Ritchie, placed the delivery of a shared future at the heart of all the Department's endeavours in housing.
"A shared future remains close to my heart and I will continue to build on Margaret's legacy by working to create not just 'mixed' neighbourhoods but truly 'integrated' communities," he said.
(BMcC/GK)
