Work will now start in June on bringing the old industrial site back to life with a mix of homes, commercial office space, retail units and a cinema and boutique brewery.
Carillion will deliver 90,000sq ft of commercial office space, 24,000sq ft of A1 and A3 retail restaurant and bar spaces alongside a mix of 1, 2 and 3 bed apartments and town houses.
Councillor James McKenna, chair of the city plans panel, said: “We are pleased to see plans to regenerate this historic part of Leeds moving forward.
“The redevelopment of the Tower Works site will create a dynamic new hub for businesses, residents, visitors and shoppers which will be a cornerstone in the regeneration of the whole area.”
The site includes a number of listed buildings, which are being preserved as part of the redevelopment- the Engine House on Globe Road, and the three ornate Italian Towers towers.
Tower Works has been designed by architects Jestico + Whiles and landscape architects Oobe.