Working with social housing provider First Wessex, Lovell will build the new housing at three sites: Exford Avenue, Harefield; Laxton Close, Sholing and Meggeson Avenue, Bitterne Park.
Work on the five-year construction programme is expected to start in May 2012.
The new homes, which will replace existing housing, will be available across a range of tenures including market rent, social rent and shared ownership.
At Exford Avenue, Lovell will also replace an existing parade of shops with seven new shops as well as moving a children’s play area.
The new housing at all three sites will meet Level 4 of the Code for Sustainable Homes, incorporating sustainable features including solar photovoltaic panels.