Developer RDE Silex and development partner Fusion Students are behind the 17-storey project, which will house up to 780 students.
It is the second scheme ISG will deliver for Fusion Student after delivering a similar scheme in Cardiff, also designed by architect Corstorphine & Wright.
The main building will be Swansea’s second tallest at 60m. Its cladding design has been altered with aluminium panels backed with mineral wool insulation rather than PUR as first planned.
Surrounding 6-8 storey buildings in the student scheme will be brick clad.
Cardiff firm E & T L Jones Building Services is carrying out groundworks.
The proposed development assists Swansea’s regeneration plans, and will also help meet the increased demands for student accommodation resulting from the expansion of the city’s two universities.
The new development is expected to be open in time for the start of the 2021 academic year, and will be a landmark, both for those arriving by train and as part of the new city skyline.