The Campus, which will also be a centre for health and care related teaching and research, will see the construction of a faculty building housing laboratories, consultation spaces, lecture facilities, and ancillary facilities.
It is benefitting from £8.5 million in Town Deal funding through Connected Coast Town Deal, which will also offer accommodation and a café, as well as parking facilities.
Led by a coalition of local, regional, and national partners, the Campus for Future Living will put Mablethorpe at the heart of the provision of health and care related jobs and businesses.
As well as providing a base for the development and testing of medi-tech applications, it will also enable the continued professional development of clinicians, and will provide support and training for people working in care.
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Cllr William Gray, the political lead at East Lindsey District Council for the Campus for Future Living project said: "This is a fantastic development which will transform Mablethorpe and put it on the map for the national significance it will play in developing new medical technology and innovation.
"Not only will it help create jobs, it will bring new opportunities for the people who live and work in Mablethorpe.
"By working with our local health partners, the University of Lincoln through the Medical Technologies Innovation Facility, it means we have been able to put a pioneering scheme together which will attract more healthcare professionals to East Lindsey.
"I am pleased the council's Planning Committee have given its approval and I look forward to seeing this project, supported by the Towns Deal, come to fruition."
Chris Baron, Chair of Connected Coast commented: "Through the Campus for Future Living, we have a unique opportunity for Mablethorpe to become a nationally-recognised leader in medical technology and innovation. "Now, with planning consent, we can work towards translating the exciting vision for this project into reality, and bring far-reaching benefits for our communities, and beyond.
"The Campus for Future Living is set to bring a national exemplar in its field to Mablethorpe bringing jobs, investments and opportunities."
