Amstone has received planning approval for its 614-home PRS scheme at Salford Quays, Greater Manchester.
The project covers five blocks and includes 17,000 sq ft of commercial space.
The four-acre site has been inactive since the cinema that previously occupied it was closed.
Amstone purchased the site in July.
The development also assists in bringing forward the proposed new footbridge that will land at the new Wharfside tram stop once it is opened.
Amstone Developments operations director Martin Halsey said: “This approval is a very positive step towards achieving Amstone’s ambitions in this new economic cycle to focus towards PRS development in the North West.
“Amstone is well funded as a group with access to significant private equity funds. Our Clippers Quay scheme provides us with the launch pad to roll out our PRS urban village concept in other North West locations in the future.”
Deloitte advised on planning and the architect on the project is Leach Rhodes Walker.
