A �10m public square is set to be created in Nottingham.
Council planners have given the go-ahead for the development in the Lace Market area of the city, which should be completed by summer 2006.
It will be built between St Mary's Gate and Fletcher Gate and will feature an open space at its centre. There will also be an underground car park.
Designers plan to build restaurants with space for open-air dining and about 50 luxury apartments.