The build-to-rent developer has been granted approval to start building its 158-apartment Croal Valley project, opposite the former Beales/Whittakers department store.
Cllr Martyn Cox, deputy leader of Bolton Council, said: “Croal Valley is a vital site in Bolton Council’s town centre masterplan. Placefirst’s plans will bring much-needed modern housing and attractive public spaces on a brownfield site.
“The development is set in the heart of Bolton and will attract more people, create new jobs and position our town centre as a desirable place to live and work.”
Designed by architect Levitt Bernstein, the £25m development is situated on a key 2.7-acre site off Central Street and Deansgate, and is part of Bolton Council’s £1.5bn regeneration of the town centre.
The project is designed around a network of newly-created pedestrian streets and a public square, and will feature a mix of apartments and townhouses.
Under the proposals, several buildings fronting Deansgate are to be demolished to make way for the apartment blocks and ground floor space within the apartment blocks is earmarked for commercial uses.
Placefirst also proposes improvements to the River Croal embankment, to be led by landscape architect CW Studios.
Manchester-based Maddox Planning is the planning consultant for the project.
David Mawson, chief executive of Placefirst, said: “Our aim has always been to leave positive, lasting effects on any development we are involved in.
“We are proud to be involved in addressing the lack of high-quality housing within the town centre and create a thriving community.”
Construction is to start next month and complete in 2023.