The £39m project also involves converting part of the former Bristol Royal Infirmary hospital building into 62 rented homes.
Remaining buildings will be demolished at Marlborough Street for several 4-6 storey buildings at the Old BRI city centre site.
Unite is in advanced discussions with the University of Bristol for a long-term nomination agreement on the scheme which is due to open for the 2021/22 academic year.
This forms part of a wider University Partnership discussion with the University of Bristol covering around 3,000 beds.
This will include a large proportion of Unite’s existing operational assets in the city following targeted investments and the Company’s 650-bed development in close proximity to the University’s new Temple Quarter campus.
The rented residential portion of the scheme includes 20% affordable units. Unite will deliver the residential portion of the scheme with the option of retaining or disposing of the homes on completion.
Simon Bray, Director of Campus Operations, University of Bristol said: “The University of Bristol has had a relationship with Unite for accommodation in the city for over 20 years. We are pleased that we had the opportunity to provide greater input in the design of the new offering and refurbishment of existing properties. “