The latest planning applications for Merepark and Ballymore's £160m joint venture around Central Station in Liverpool have been approved by Liverpool City Council.
The JV partners said work would begin on the delayed Central Village development in the summer.
Work was originally due to start in 2007 but the scheme altered when the Lewis's department store was acquired and banks' lending criteria became more stringent. The developers are believed to be in talks with Abbey over financing the scheme but have declined to comment.
Planning was this week granted for a 455-space multi-storey car park, with ground floor retail space on land between Heathfield, Back Bold Street and Renshaw Street.
The station's maintenance depot will be moved to make way for the car park. QPARK has signed a 35-year lease for the 455-space car park.
The second application modified plans for the Copthorne Hotel, to provide 240 bedrooms, associated hotel facilities and ground floor retail space. Millennium & Copthorne entered into 20-year agreements to operate the Copthorne Hotel and the four-star Millennium Hotel at Central Village.
A separate application is still with the council to change the residential element from private sale to student rental accommodation.
Ian Jones, director of Cheshire-based Merepark, said: "The approvals are the catalyst to start work on site. We now have the green light to begin making Central Village a reality as the second phase of work will include construction of the multi-storey car park and relocation of the Network Rail Central Station Maintenance depot and workforce onto land below the car park."
Central Village will comprise two new hotels, an apart-hotel, retail and leisure units, cinema and offices combined with a stepped water race, timber boardwalk and public realm and will be directly linked to Central Station. Merepark recently completed the redevelopment of 9-25 Bold Street to provide a gateway to the main Central Village site.