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The council spent £2.8m on the Town Deal projects, with £4.5m in government funding and £200,000 coming from the UK Shared Prosperity Fund.
The building, which was originally designed by 1930s borough architect, John Charles Robinson, is located between Caunce Street, Church Street and Cookson Street.
A council spokesperson said the business hub at the building would be named The Robinson in honour of the renowned architect.
He also designed former civic landmarks including Derby Baths and South Shore Open Air Baths.
The building has been converted into 44 offices and meeting rooms, with a co-working space on the ground floor.
Work has also included facade repairs, a new roof, new windows and eighteen new shopfronts.
Three long-established shops in the building, Records and Relics, Mankind Designer Menswear and Hermosa Boutique, are to remain on the Church Street side of the property.
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