Developer Hub is bringing forward the 1.2-acre mixed-use development, known as Chords. This will consist of 695 co-living flats and 20 three-bed family homes alongside community infrastructure, including a new NHS health centre.
Designed by Allford Hall Monaghan Morris, the scheme will be delivered across three buildings.
Hub said it would hold a competitive tender now to select a contractor.
The health hub will occupy the lower floors of one block, meeting long-standing demand for local healthcare facilities as the neighbourhood’s population continues to grow.
Managing director Damien Sharkey said: “As our largest co-living-led approval to date, we’re excited to be moving forward with this important site – not only for the Elephant Park neighbourhood, but for the wider co-living sector.”

