Police and ambulance services were called to a courtyard in Vittoria Street, Hockley, just before 6pm where a property was in the process of being renovated.
A 49-year-old man from London was found trapped under a significant amount of rubble and pronounced dead at the scene at 6.20pm.
West Midlands Police is working with the Health & Safety Executive to investigate the circumstances around the wall collapse.
The building being renovated is understood to be a Grade II listed factory. Two other workers were injured in the incident.
West Midlands Police Force Incident Manager, Chief Inspector Dave Keen, said: “Attempts were made by paramedics to resuscitate the man but there was nothing that could be done to save him.
“We have made contact with his family and they are being supported by police officers.
“This was a significant wall collapse which has potentially destabilised other parts of the building and structural surveys will be carried out in due course.
“The road was closed to allow emergency services to access the scene but has since re-opened; there is not considered to be any risk to the wider public and the wall collapse was contained within a courtyard area.”