Derby's City Centre Masterplan has taken a major step forward as two developments have been given the green light.
Prosperity's 319-bed student complex will be situated next to fellow Bondholder Derby College's Joseph Wright site, at the junction of Cathedral Road, Willow Row and Walker Lane.
The complex will include a nine-storey block and an eight-storey block.
After his scheme gained approval, Gavin Barry, Chief Executive of Prosperity Capital Partners, said: "It's great news. I'm pleased with the result but not surprised because it's a great scheme. We're looking forward to getting started."
Councillors also approved The Nightingale Quarter.
The development will encompass 500 homes, restaurants, retail, office space, as well as a public park.
Martin Rawson, Deputy Leader of Derby City Council, said: "I welcome news that both Prosperity Capital Partner's 319-bed student complex, and the 500 home Nightingale Quarter development, have been given the green light.
"Both developments represent a significant step forward in the delivery of the City Centre Masterplan, and will have a positive impact on the city. "