Warrington Borough Council approved the proposal for John Street, close to the railway station, which is an area undergoing significant regeneration.
Construction of the £56m, eight-storey development will begin later in the year, the developer said. It will include 362 units, all for private rent, and around 800 car parking spaces.
The site was purchased, on a subject to planning approval deal, from local property owner Bob McLaughlin.
The scheme is one of three that Newcastle-based High Street Group has in progress in Lancashire. It already has planning consent for a £26m, nine-storey, 127 home complex – including town houses and apartments – in Salford, close to Middlewood Locks, where building is expected to commence this summer. Proposals for a £28m, 10-storey, 156-unit project in Trafford, Manchester are also well advanced.
High Street Group also has PRS projects either under construction or planned in Birmingham, Milton Keynes and Newcastle-upon-Tyne, with a combined gross development value of £340m. To date, it has been granted planning consent for 1,498 apartments.