The eight-storey development of 108 apartments will transform the site of the former Excelsior Mill printing and book binding works next to the Bridgewater canal.
Remediation work on the site, off Hulme Hall Road, has already been completed and GMI will start main construction work next month.
Leeds-based GMI opened its North West office in Manchester last year and is currently on site with the Dakota Deluxe hotel and Burlington House residential schemes in Piccadilly Basin.
James Alderson, head of Mulbury City said: “We were impressed with GMI’s track record, professionalism and desire to be our construction partner on our latest city centre development.”
Marc Banks, commercial director for GMI, said: “We’re looking forward to working with the project team and successfully delivering this prestigious development.”
Completion is scheduled for the end of 2019.