Carillion has received planning consent from the Leeds City Council for the redevelopment of £80m Tower Works site in Holbeck, UK.
Work under the project includes the restoration of the 1.04 hectare site, which is an old industrial location with three Italianate towers. It is scheduled to begin later this year.
Leeds City councillor James McKenna said: "The redevelopment of the Tower Works site will create a dynamic new hub for businesses, residents, visitors and shoppers, which will be a cornerstone in the regeneration of the whole area.
"Above all it is important to us to see this site protected and preserved as well as securing its future and maximising its enormous potential."
The Homes and Communities Agency selected Carillion as the preferred development partner in March last year.
Carillion will develop 92,000ft² of commercial office space, 20,000ft² of A1 and A3 retail restaurant and bar spaces and 160 residential units.
Construction on ten new buildings at the site will be carried out in a three-phased approach.
The site will also house a micro-brewery and an art house cinema.
It links to the Holbeck Urban Village, a key element of the South Bank Programme that will see the council work alongside other public bodies and the private and third sectors to bring forward a mix of uses in one of Europe's largest urban regeneration schemes.
Carillion Developments development director Gareth Jackson previously said: "Our masterplan proposals respectfully emulate the urban grain of Holbeck Urban Village, whilst delivering a unique place making proposition of spacious canal side residential accommodation and commercial office spaces, supported by complementary café bars and restaurants in an exciting part of Leeds City Centre.
"We look forward to working in partnership with the HCA and Leeds City Council to deliver these proposals."
Image: Artist impression of the completed Tower Works site. Photo: courtesy of Carillion plc.