Proposals have now been approved for a development on the corner of Princess Street and Whitworth Street in the city centre.
The scheme comprises of two residential buildings containing 238 apartments, a 148-bedroom four star hotel, ground floor commercial units and a new landscaped public square.
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In addition, a new four-level basement car park will be built, which will provide 273 parking spaces.
Previously, the company purchased the one-acre site with an existing planning consent in December 2014.
Since that planning consent was granted in 2007, a number of factors have changed, including the economy and property market as well as thinking about design and uses.
Nigel Hugill, Executive Chairman of Urban&Civic, said: "We are fully grateful for the support of all concerned. Urban&Civic very much see ourselves as long term investors in Manchester, having built No1 Deansgate and Green Quarter in our previous business."
Work on the project is due to begin slightly ahead of schedule in 2016, with the first new residents moving in approximately 20 months later.
(LM)
