A SOARING apartment tower, set to become Southampton's tallest building, has been given the go ahead to revive an abandoned flagship waterfront development.

Councillors have approved plans for a £74m scheme that will see three apartment towers, new shops and restaurants built at Ocean Village bringing 200 jobs to the city.

When built, the highest tower at 26 storeys or 260 feet, will become Southampton's tallest building - nearly twice the height of the Civic Centre clock tower.

The scheme was designed by HGP architects, who were behind the Spinnaker Tower and Sails of the South in Portsmouth.

The plans for Admiral's Quay include 299 flats, a public square and up to eight restaurants with seating spilling out onto the waterside promenade.

Allied Developments, half owned by the mega rich boss of the Carphone Warehouse, came to the rescue of the boarded up development after builders downed tools nearly four years ago.

Just three of a planned row of five blocks of flats and two of up to ten restaurants and bars had been built.

Allied managing director Peter Morton said the new development would allow Ocean village to finally live up to its potential for residents and become a "waterfront to be proud of".

“It will be a place where residents can go to and relax and enjoy the waterfront in a wonderful setting," he said.

“Southampton’s waterfront will become a true destination over the coming years and it’s wonderful to be a part of that.”

Allied hope to start work this summer. The new apartments could be completed by summer 2014.