The £80m tower block, called the Lexington Liverpool, will have 304 apartments of varying sizes. It will be the tallest residential development in Peel Group's Liverpool Waters regeneration area.
Moda Living and Apache Capital will retain ownership and operate it through their PRS joint venture.
Lexington Liverpool is the third project to be brought forward by the joint venture. It has previously secured planning permission for the £128m, 466-apartment Angels Gardens development in Manchester and for a £145m, 37-storey block of flats on Birmingham’s Broad Street.
Moda Living director Dan Brooks said: “Liverpool is an exciting place to be in right now, with lots of development activity and a real can-do attitude from the council. The Lexington at Princes Dock will help underpin the regeneration efforts there while also providing much needed quality homes for rent. This is the next important step in our ambitious plan to create the UK’s leading rental brand providing a new benchmark for city centre living.”
Apache Capital managing director Richard Jackson added: “The Lexington will provide a fantastic legacy for Liverpool and its historic skyline and waterfront, creating from the outset a vibrant community that will be part of the local area.”