The £35m scheme from Accor Hotels will provide a 160-bedroom Novotel hotel and 60-bedroom upscale aparthotel operated by Legacy Hotels & Resorts.
The striking 18-storey tower will be designed by Ryder Architecture.
Subject to planning approval, construction by Morgan Sindall will begin next summer and be completed in 2021.
The build will support 400 construction jobs – two thirds of which will be recruited from the local labour supply chain.
All the appointed designers also come from Liverpool: Ryder (architects), Curtin’s (structural engineers) and Steven Hunt Associates (mechanical and electrical).
Mayor of Liverpool Joe Anderson, said: “I’m thrilled at how many Liverpool businesses are involved in its design and construction – this will truly be an iconic landmark for the city, by the city and echoes everything we are aiming to achieve in Paddington Village to underpin the city’s position as a world leading innovation district.”
Barry Roberts, managing director at Morgan Sindall Construction & Infrastructure in the north, said: “This announcement is the latest key stage of the development of what will be a pivotal element of the Knowledge Quarter, and we are looking forward to working with Novotel and the wider project team to make their ambitious plans for this hotel a reality.
“One of the most rewarding aspects of our work at Paddington Village is the positive impact it has on the wider city, and we will continue to ensure our ongoing presence benefits the regional economy through the incorporation of local businesses in our supply chain, as well as creating jobs and training opportunities for local people.”