Alumno Developments has been granted permission to demolish the Comet store on Dumbarton Road, opposite Mansefield Park, and erect a purpose built student block.
The plan drew seven objections and nine letters of support, including two from Glasgow Chamber of Commerce and Glasgow City Marketing Bureau.
Local councillor Aileen Colleran objected to the plan to house students on the site near the foot of Byres Road.
She said: "I am not opposed to the concept of student housing but I have fundamental issues about the location because many of the neighbours are elderly or housebound."
However, councillors were told the company plans to staff the building round the clock.
A report said: "The application proposes a management office at ground floor level which will be managed by a dedicated site manager between 9am and 6pm Monday to Friday.
"It is proposed there will be student wardens on site on a 24/7 basis, as well as an out-of-hours call centre.
"Both the wardens and the call centre will be able to deal with emergencies relating to anti-social behaviour and security should they arise."
Glasgow-born David Campbell, managing director of Alumno Developments, said the development would combine purpose-built student flats with shops at street level.
He added: "I can assure local people that it will be well managed around the clock.
"We believe this development will help meet the high demand for student accommodation, particularly in the West End, which has been identified as lacking by sector analysts.
"It will also create employment opportunities and contribute to the appearance, vitality and security of the area.
"This is Alumno's first development in Glasgow but we have a strong track record in creating such developments in other UK cities.
"On a personal level, given that Glasgow is my home city, I am delighted with this permission and I see this project as a solid foundation and platform with which Alumno can progress further with new opportunities to invest long term in the city."