Balfour Beatty is in talks with the developer, but has not yet signed a contract for the 900-bed project in Islington.
Unite aims to start the 260,000 sq ft Stapleton House scheme soon for a 2016 delivery.
The 14-storey complex will be located opposite the London Metropolitan University on Holloway Road.
It for a major cluster of flats based around four reinforced concrete cores that will be brick clad.
The 110-week building programme will involve 14 weeks of enabling works including demolition of existing buildings at 263 – 289 Holloway Road and 2-16 Eden Grove.
Richard Simpson, Managing Director of Property, said: “There is a significant shortfall of student accommodation in London which puts pressure on the residential housing market.
“This new development will not only help alleviate that, but will also contribute to the regeneration of one of London’s oldest boroughs and represents an important milestone in our development strategy.”