The conversion of two listed buildings in Hope Street into student accommodation has been granted planning consent by Liverpool City Council.
Hahnemann House, at 42 Hope Street, and the neighbouring Georgian townhouse at 58 Hope Street will be transformed into 93 studios in total by Maghull Group.
Sean McGurren, managing director of Maghull Group, said: "It will give students the chance to live and work in a highly accessible location close to the city centre and within the Knowledge Quarter."
The conversion was designed by Falconer Chester Hall. Adam Hall, managing director of Falconer Chester Hall, said: "The conversion will be hugely sympathetic to the existing character and layout of the buildings. Indeed, Hahnemann House's former use as a Homeopathic hospital means the rooms lend themselves very well to use as individual student units.
"These are buildings which add so much to the architectural mix on Hope Street and being able to retain so many of their original features will help preserve their undoubted charm."
The scheme will feature a 24-hour management office, and students will be asked to commit to a good neighbour charter as a condition of their tenancy which prohibits them from applying for a resident's parking permit. The charter also requires the building's management to engage with the local residential community
The buildings currently provide short-term office space for small businesses, but Maghull said this temporary use would not have sustained the necessary investment to improve the quality of the buildings' fabric.
Negotiations are now at an advanced stage with a national student operator and the intention is for the accommodation to be fully refurbished and available in time for the September 2014 intake of students now that planning permission has been obtained.
Maghull recently sold a large site in Hope Street to New York-based NCH Fund which will develop 345 student beds and 14,000 sq ft of retail space by September 2015.