Scottish Canals and partner Igloo Regeneration Partnership are investing £1.2 million to transform Port Dundas Business Park on the Forth and Clyde Canal into a centre for "business, arts and leisure".
The partners paid £3.66m in February for the decades old industrial offices at 100 Borron Street, just north of the city centre.
The owners hope to lure new firms with the attraction of the canal location, which would allows walking, running, cycling or even canoeing to work.
The site at 100 Borron Street backs on to the canal's new £2.2m Pinkston Paddlesports centre, which will be Scotland's first competition standard paddlesports centre.
Planners hope the centre will attract 25,000 users a year.
Workers at the new development will also have access to an on-site gym and covered skatepark.
Given the site's proximity to the new cultural quarter at Speirs Wharf - home to the National Theatre of Scotland, Scottish Opera, the Glasgow Academy Musical Theatre Arts and the Glasgow Sculpture Studio - the developers are keen to attract businesses from a range of sectors, including the creative sector.
Works to be undertaken on site include improvement to the building's existing entrance as well as new signage, outdoor furniture, redecoration and landscaping.
A landmark piece of street art will also be commissioned, and Scottish Canals is now looking for a partner to help develop this.
Markus Kroner, Scottish Canals' estates manager, said: "100 Borron Street is ideally placed for emerging and growing businesses that require first class commercial premises.
"It benefits from a location close to the city centre, with direct access to the UK's wider transport network via the M8.
"We believe it will attract companies who are looking to offer their staff a working environment with a recreational element.
"The setting is effectively an outdoor gym, with the canal-side location allowing walking, running, cycling or even canoeing to work.
"For example, you can easily cycle here from the city's West End in 20 minutes.
"And this is in addition to our plans for a skatepark and a gym."