Investec Bank and Vinci have been given the go-ahead to build apartments at Queens Dock, Liverpool.
The bank's plan for two 13 and 15-storey towers containing 192 flats was approved by the city's planning committee on 10 January.
Previous planning consents were granted in 2006 and 2009 for a single tower of 22 storeys but were not implemented. The 2006 consent was gained by the Taittinger family, which developed the nearby Leo Casino in the early 2000s.
The site was later sold on to Roddington Investments before Investec took control. As the mortgage provider, Investec, said it will now develop the revised scheme itself after Roddington exited.
Eight nearby residents objected to the plans claiming the proposals would cause over-supply of housing in the area, increase traffic congestion and were of a poor architectural standard.