The controversial Goldsworth Road development in Woking won a planning appeal after four storeys were shaved on the tallest tower, lowering it to 36 storeys.
The new scheme provides 965 units along with over 14,000m² of commercial space and a new homeless shelter over five buildings.
The project has a development value of around £330m and is expected to cost around £190m to build.
EcoWorld London, which gained a swathe of sites after buying up Willmott Dixon Homes assets, will be starting on site as soon as possible, with work expected to commence towards the end of 2022.
The planning approval was given following an appeal of the initial decision in January 2021.
Conor McGahon, managing director, EcoWorld London said: “We at EcoWorld London are totally committed to creating positive change for Woking and are very pleased to be granted planning permission to progress with our exciting plans for the town centre.
“Working in partnerships is a fundamental part of our DNA and we look forward to working closely with the Council and community as we deliver much-needed new homes, biodiverse green spaces and retail all set within extensive pedestrian-friendly public space for everyone to enjoy.”
EcoWorld London will invest more than £10m in local infrastructure as part of its planning commitment.
The architect for the project, JTP, has ensured the proposed homes are of the highest standard in terms of mix, size and amenity space.
The development will deliver car club spaces, as well as an additional 263 car parking spaces for residents – 40% of which will have electric car charging capabilities.