Located on a 1.7ha brownfield site bordering the River Irwell, Chapel Wharf will offer 900 apartments together with retail and commercial units.
The development, for Dandara, is likened to 'three fingers' by project director Martin Sagar, with each split into two blocks of varying heights.
It will create three new public spaces, including a square for Chapel Street, a piazza neighbouring the Lowry Hotel and a focal point, at the base of the tower, for the River Irwell.
Commenting on the wider regeneration merits of the scheme, Sagar said 'Creating a high-density development will inject physical and social renewal to this historic site, attracting major commercial business to the area and ensuring the locality remains lively.'
When complete, Chapel Wharf will offer a mix of one-, two- and three-bed apartments and penthouses, with commercial and leisure units at ground level.
Building consent includes detailed and outline planning for phase one, comprising 552 apartments, and outline planning for phase two, comprising 438 apartments.
It is scheduled for completion in late 2009.