The start date was confirmed after residential landlord Grainger plc agreed to forward fund the scheme for £55.5m.
The PRS development in the Hallsville Quarter development at Canning Town will also include 11,000 sq ft of commercial space.
It will be developed by Linkcity with Bouygues UK as main contractor and will be the fifth PRS scheme Linkcity and Bouygues UK will deliver for Grainger.
Helen Gordon, Chief Executive of Grainger, said: “We are pleased to further strengthen our London presence with this acquisition, which will deliver 132 high quality homes for rent in one of our top target cities. T
“The Canning Town area is undergoing significant regeneration and upon completion of this project, Grainger’s east London cluster will comprise 748 purpose-built homes, providing scale and operational efficiencies.”