Council leaders have rubberstamped plans for a £20million hotel complex which will serve as a gateway to the city.
The eight-storey glass building, on the corner of Corporation Street and Ringway, will house a 126-room hotel and 52 apartments, overlooking a central courtyard with shops, a restaurant and bar on the ground floor.
Planners gave the green light for the landmark complex which will be built on the Fox Street car park at a town hall meeting, last Thursday, August 7.
The building will also become a striking feature in the city at night as it will be lit up by dozens of multi-coloured lights.
The Preston City Mission Church in Corporation Street and the Garside Waddingham building in Ringway will both remain but will be overshadowed by the development.
The applicant, Liverpool-based Kubik Design, also known as Amadeus Property and Development, will price 16 of the apartments below the city average with five on sale at £105,000.
They have also agreed to contribute towards four affordable homes elsewhere in the city and cash for transport improvements.