The developer has just signed off a Section 106 agreement for the Digbeth scheme giving the all-clear for work to start.
Under the deal, 10% of the build-to-rent homes will now be offered as affordable housing, an additional community benefit to the value of £5m.
The Stone Yard scheme will see the regeneration of the former Bull Ring Trading Estate site on High Street Deritend.
It will involve seven separate buildings ranging from 6 to 30 storeys, with a mix of one and two-bedroom properties.
The development will also include 30,000 sq ft of commercial space for uses such as a gym and cinema, co-working space.
Designed by Glancy Nicholls Architects, with services consultant Couch Perry Wilkes, and structural engineering by CWA, the scheme will be built around two landscaped courtyards.
Anthony McCourt, CEO of Court Collaboration, said: “People and communities have always been at the core of our ethos at Court Collaboration, so we remain committed to delivering schemes which are much more than just bricks and mortar.
“We’re delighted to have completed the Section 106 agreement and committed to the affordable housing in the scheme. We look forward to starting work on site in Q1 2021.”