Brighton City Council in the UK has approved a £100m mixed-use development scheme at Circus Street, which will be developed as a joint venture of Cathedral and McLaren property in collaboration with the University of Brighton and the city council.
The project includes the construction of 142 homes, 450 student accommodation units, more than 3,000m² of office space, retail shops, restaurants and a public square.
Planning committee chair councillor Phélim Mac Cafferty said: "The city will have 142 new homes, so we are rising to the housing crisis facing the city.
"It is also of course, so important in terms of winning the city plan, the city's blueprint for development to 2030.
"We will have 450 student flats which will free up residential houses for our city's residents and enable the university to house its students near to the campus."
In addition, the development works will include constructing new teaching and research facilities for the university and a new dance studio for South East Dance, which is expected to attract 70,000 visitors a year.
"The city will have a stylish new library and academic facilities for the University of Brighton, which has an acute need to continue to offer students and the city contemplative places to question the world," Cafferty added.
To be built on the former municipal fruit and vegetable market site, the project is expected to create 400 jobs and add £200m to the city's economy in the next ten years.
Construction work on the scheme is expected to begin in October this year and complete in late 2017.