The seven-storey development located on Denby Street is being developed by student accommodation Victoria Hall Management and funded by BlackRock Real Estate.
All the bedrooms are ensuite, with clusters of four to five rooms having their own communal living room and kitchen area.
Liam Le Roux, Vice President, BlackRock Real Estate said: “This is an exciting opportunity to regenerate a neglected site in Sheffield into a high quality scheme with excellent amenity space that will appeal to students.
“This development is in line with our ongoing aggregation strategy to build out a substantial student accommodation portfolio in the UK.
Nick Banks, operations director of the NM Group’s building division, said the project was the second contract for Victoria Hall/Blackrock
Work is just starting on site with ground remediation work already being undertaken. The project is due for completion in June 2018 in readiness for occupation by students in September, ready for the next academic year.