The £350m regeneration of Bradford has been given the go-ahead by the Department for Communities and Local Government.
The Channel is one of four schemes included in the Will Alsop-designed masterplan which aims to regenerate the Bradford area.
The 13-acre scheme will create a mixture of apartments, shops, cafes, bars, restaurants, offices, a hotel, leisure and healthcare facilities, all water-themed.
It has been designed by Bradford-based Robinson Design Group and will features two towers of 16 and 24 storeys in addition to a covered winter garden with cafés, bars and exhibition areas to provide a year-round leisure facility.
The design also provides links to existing facilities within the city, such as Forster Square Station, the new Broadway Shopping Mall and the Little Germany residential and office community.
The scheme already has planning approval from Bradford City Council. Bradford Channel can now begin planning the first phase of the scheme.
Bradford Channel headed by Harold Robinson’s Bradford-based Magellan Properties. Dr Robinson said: ‘We have the all clear to move forward. After years of negotiations and planning it is a very exciting time for us and for the city of Bradford.’