The £200m mixed-use redevelopment project is spearheaded by ex-Manchester United footballers turned property developers, Gary Neville and Ryan Giggs.
St Michael's development will include a 216 bedroom five-star hotel as well as apartment units in what will be a 39-storey building.
The development will also include an outdoor rooftop terrace –and a boutique hotel in the former Bootle Street police station.
St Michael's development has been a decade in its incubation so far. No time scale for its completion and opening has been published yet.