The work is being carried out by City legacy Consortium, which is made up of builders CCG, Cruden, Mactaggart & Mickel and WH Malcolm.
During the Games period the site will be home to 6,500 athletes and officials. When the Games are over, the site will convert to residential use with 304 private homes, 300 rented houses and a 120-bed care home for older people.
The village will comprise 21 separate house types from flats to town houses in a low rise development that will boast 60% lower carbon emissions than similar building types.
Ed Monaghan of City Legacy said: “The City Legacy Consortium is investing £150m to transform the area into a much sought after riverside residential location which showcases the Athletes’ Village as the best in contemporary and sustainable design.”
The expected total cost of delivering the Games has been set at £523.6m, funded by the Scottish Government, Glasgow City Council and commercial income generated by the organising committee.