The plans were approved by An Bord Pleanala
The proposed development will be located at the former Square Deal site on Washington Street.
However, the Irish Examiner reports that the approval has come with a number of conditions, including one to protect the view of St. Fin Barre's Cathedral.
The Washington Street development will also include a ground-floor cafe, several commercial premises, and 140 bicycle spaces.
Work on the demolition on the former site has already begun, with the development, named Broga House, to be fully completed by September 2022.
