Local developer Court Collaboration now plans to start work later this year on the 454 one and two-bed flats scheme in Deritend.
Its skyscraper project will boast a gym, a cinema, a sky lounge and bar, as well as flexible co-working space and cycle parking.
Alex Neale, CEO at Court Collaboration, said: “This development will provide contemporary city living in a prime location, complementing the surrounding area and numerous high-rise developments coming forward in Digbeth, including Connaught Square, Lunar Rise and our own, Stone Yard.
“With a high level of ongoing investment and regeneration in this area, as well as the wider city centre, we are thrilled to have received planning permission from Birmingham City Council and look forward to starting works on-site in due course.”