The 34-storey tower, called the Lexington because of its “New York-style design”, will house 304 high-specification one, two and three-bed apartments alongside 15,000 sq ft of amenity space.
It will be the tallest residential development in the Liverpool Waters neighbourhood, and forms part of the Peel Group’s £5.5bn regeneration masterplan for the area.
Moda Living and funding partner Apache Capital will retain ownership of the property and operate it through their joint venture.
It is the third project to be brought forward by the JV. It has previously secured planning permission for the £128m, 466 apartment Angels Gardens development in Manchester, and last week announced a £145m, 450-apartment block on Broad Street, Birmingham.
Dan Brooks, director at Moda Living, said the development will help “underpin the regeneration efforts” in the area and provide “much-needed quality homes for rent”.
“This is the next important step in our ambitious plan to create the UK’s leading rental brand providing a new benchmark for city centre living.”
Richard Jackson, co-founder and managing director of Apache Capital Partners, said: “The Lexington will provide a fantastic legacy for Liverpool and its historic skyline and waterfront, creating from the outset a vibrant community that will be part of the local area.”