The development for Studytel will provide accommodation for students studying at the Penryn Campus, which is shared by Falmouth University and the University of Exeter.
Caledonian will manufacture the modules at its factory in Newark as the construction of the concrete frame takes place on site.
This approach will significantly reduce the overall construction schedule, enabling handover in time for the new term in September.
Paul Lang, CEO of Caledonian Modular, said: “In spite of the events happening on a world stage, we continue to grow and develop as a business.
“A large proportion of our recent new business wins are turnkey projects as clients are beginning to understand the benefits it gives them in terms of budget certainty, speed to market and quality consistency.”
Caledonian continues to invest in BIM, design for manufacture and assembly (DFMA) and lean manufacturing techniques to supply a finished product more efficiently, with higher levels of factory completion.
The first phase of Studytel Penryn is due to open to students at the start of the academic year 2021/22.