Kier Living’s successful bid includes a proposal for around 260 homes, ranging from one-bedroom flats to four-bedroom houses, with 30% affordable housing.
The scheme forms part of a 13 hectare wider development site at Hengrove Park and is subject to public consultation and planning consent.
Chris King, managing director of Kier Living’s central operations, said that designs for the site would be developed over the next few months with a target of April 2016 to submit the scheme for planning permission.
George Ferguson, Mayor of Bristol, said: “This is great news and finally unlocks Bristol’s biggest remaining opportunity for new family homes in the south of the city.
“This development is the first phase of a plan to regenerate Hengrove Park with hundreds more homes and landscaped park that will attract new investment and services to the area.”