Construction will start next month on four blocks up to a maximum of 15 storeys with completion expected in August 2022.
Alongside the homes will be three commercial units as well as underground parking and extensive landscaped open spaces.
Richard Cook, Group Director of Development for Clarion Housing Group, said: “We’re delighted to be bringing affordable and desirable homes to Bristol, providing opportunities for people to enjoy riverside living with easy access to all that the city has to offer.
“This is our first development in Bristol city centre, and is part of our long-term growth strategy for the South West.
“Working with Mid Group and Bristol City Council, we look forward to creating a thriving community at the heart of the city.”