The former Greens Hotel in Gretna near the Scotland-England border could become a business centre.
Construction will start soon on the artwork Cecil Balmond won a competition to design in 2011.
It is hoped the Star of Caledonia will attract more than 200,000 visitors a year once it opens in 2027.
A range of prominent business leaders across Dumfries and Galloway oppose the so-called tourist-tax.
Councillors unanimously approve plans to build the Star of Caledonia sculpture near Gretna Green.
Marriage laws in Scotland currently allow those aged 16 and 17 to wed without parental consent.
The complex - on a grassland site near Gretna Green - will house almost 400 units.
The Star of Caledonia will stand 33m (100ft) high and aim to attract hundreds of thousands of visitors.
The number of couples getting married in the Gretna area sees a surge in the years after the pandemic.
