This £82 million, New York-style residential tower will transform Liverpool's waterfront

Skyscrapers and glamorous residences don't spring to mind when you think of Liverpool.

Now, in the latest move to change its image, the city is hoping to transform its waterfront with an £82 million ($107 million) residential development, The Lexington.

Named after the building's New York-inspired design, the 34-storey tower will be the tallest in the city's Liverpool Waters area and will overlook the docks that first kick-started Liverpool's growth.

The building, designed by Falconer Chester Hall architects, will look like this:

The Lexington will feature 304 private rental apartments as well as a residents' lounge.

It will also boast a gym, roof terrace, garden, fitness studio, and a 24-hour managed concierge.

If that's not enough, an indoor/outdoor cinema is in the works too.

A joint venture that will be developed and operated by Moda Living and funded by Apache Capital Partners, The Lexington is part of the Peel Group's £5.5 billion ($7.2 billion) Liverpool Waters regeneration masterplan.

Liverpool's waterfront, which boasts the Three Graces - the Royal Liver Building, Cunard Building and Port of Liverpool Building - is recognised by UNESCO as a world heritage site.

The Lexington is the biggest single investment into Liverpool's property market this year and demonstrates Mayor Joe Anderson's commitment to supporting investment and housing.

"Liverpool is an exciting place to be in right now, with lots of development activity and a real can-do attitude from the council," Dan Brooks, Director at Moda Living, said.

"The Lexington at Princes Dock will help underpin the regeneration efforts there while also providing much needed quality homes for rent."