The project is a planned 39-bedroom hotel on the site of the former Commercial Hotel, a Grade II-listed building in Castlefield.
The original building would be fully refurbished to provide hotel accommodation together with a ground-floor restaurant and bar.
A new five-storey extension would be added at the rear.
Plans to convert the buildings into a hotel were first approved by Manchester City Council in December 2011, but the project was never progressed.
Signature Living already operate a range of hotels and apartments across the UK, including the Titanic Hotel and the Shankly Hotel in Liverpool plus the recently opened Exchange Hotel in Cardiff.