The first phase is set to begin this year with enabling works already started.
The £55m mixed-use Westside scheme will deliver a multiplex cinema, 50,000 sq ft of leisure space, 40,000 sq ft of new restaurant space, a 100-plus bed hotel and a multi-storey car park.
The second phase of the development will deliver new homes as well as additional retail and leisure space.
Councillor John Reynolds, cabinet member for city economy, said: "The scheme has already attracted unprecedented demand from occupiers and being granted outline planning approval means the finer details can be agreed in terms of occupier expectations.
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"Urban&Civic possesses an excellent track record in delivering comparable high-quality schemes in the UK and has the financial support in place.
"There is a general enthusiasm around the Westside opportunity and optimism concerning the groundswell of regeneration activity across the city, where £3.7bn of investment is on site or in the pipeline.
Philip Leech, property director for Urban&Civic, added: "We are delighted to have reached this important milestone in the delivery of Westside.
"We have had an exceptional level of interest from occupiers and look forward to starting construction this year."
The first phase is expected to be completed in 2020, while the second is likely to be finished in 2022.