First raised by then Lord Mayor Kate Nicholl, the idea received cross party support when formally requested by Councillor Christine Bower on Friday.
She added: “The Covid pandemic caused great pain, suffering and loss for people across the City. It was a time of isolation for many and saw our way of life completely altered.
“The trauma and grief from this time is still felt across our city, which is why a dedicated space for people to come together, share their pain and lean on each other for support is so important.
“While we are still rebuilding the sense of community and togetherness which Covid tore down, we only have to look to other areas that have already established similar memorials to witness the positive impact to all in the surrounding area.
“I look forward to seeing this project progress.”