A landmark 12-storey block of flats given the go-ahead this week will help to create a 'business district' around Nottingham Railway Station, developers behind the project have said.
Set to occupy derelict land off Arkwright Street, near Nottingham Railway Station, the scheme was approved on Wednesday (June 17).
Developers said the accommodation would be for workers - in a location close to two new major office blocks.
Alex Newbold, Cassidy Group's land manager, said: "We are excited to bring this £55m development to Nottingham which will be aimed at working professionals, the current programme is for a 2020 start with completion in 2022.
"Our Arkwright Street site is located in The Station Quarter which is the centre of the £250m Southern Gateway regeneration project with an aim to create a business district around the station.
"The hub of the Southern Gateway will be Unity Square [off Queensbridge Road] which has approval for 670,000 sq ft of Grade A office space in two phases on a 1.14 hectare site - the first phase of 450,000 sq ft being the new HMRC regional offices, currently under construction for completion in 2021 with 4,500 employees.
"Immediately adjacent to our Arkwright Street site is the upcoming Crocus Place development [on the junction of Arkwright Street at Crocus Street.] with a proposal for 125,000 sq ft with potentially 1,150 employees."
A range of one and two-bedroom apartments and studio flats are included within the plan for the site.
There will also be a gym, courtyard, ground floor retail space, 97 car parking spaces and 324 cycle spaces.
Planning documents describe the development as a "a 12-storey landmark tower and three to five-storey building".
A spokesman for Nottingham City Council added: "This important planning application within Nottingham’s Southside regeneration area was the first to be determined through our virtual planning committee process.
"The committee was a success and the application for 319 apartments was approved, subject to the conclusion of further negotiations regarding the accompanying S106 agreement.
"In supporting the development, the committee made clear that careful attention must be paid to using high quality-materials, the sustainability of the building, and opportunities for biodiversity. These matters will be secured through planning conditions.”
A previous proposal, that sought to create a 420-student bed scheme, was previously approved for the site - but Cassidy Group tabled a revised application, the one approved this week.
The firm has been involved in several other developments in the city centre and further afield.
Mr Newbold said: "In combination with our recently completed 350 apartments at Saffron Court [in Crocus Street], and our upcoming 122 apartments on London Road, this development will be our third around The Station Quarter which will total Cassidy Group's investment into this area of Nottingham at circa £120m.
"A Further £150m is being invested into the city by Cassidy Group through our recent and ongoing student accommodation developments including the completed 229 bedrooms at Dagfa House [in Broadgate, Beeston], the 472 bedrooms under construction at York Street [near the intu Victoria Centre, in the city centre], and our upcoming 703 Bedrooms at Deakin's Place [in Radford] starting in the autumn of 2020."