Plans for the 4.5 acre site, which is located off Vaughan Way, include building a 6-storey and a 10-storey hotel, 35,000 sq ft of offices, and a new public realm called Great Central Square.
Works will be carried out alongside the regeneration of the former Leicester Central train station and creation of a new car park for the hotels and office, which CSB will undertake itself.
Alongside the mixed-use scheme, Morgan Sindall is also carrying out a £3m programme of highway improvements to Vaughan Way and Grand Central Station Street.
Leicester City Council has commissioned infrastructure upgrades as part of its wider Connecting Leicester programme, which aims to improve links between key city areas.
Work on the mixed-use development begin later this month with completion expected in late 2019.
Sean Bowles, managing director of Morgan Sindall in the Midlands, said: “Leicester is riding a wave of optimism and prosperity, on the back of a resurgent tourist industry.
“This landmark scheme and the programme of important infrastructure upgrades will breathe new life into the Great Central station area and substantially improve the accommodation offer for visitors to the city.”