Development manager Cubex Land is starting construction after securing a forward funding deal worth £63m with private rental specialist Grainger.
The latest project will see Willmott Dixon build around 230 rental flats on the site of the former Avon Fire and Rescue HQ.
Willmott Dixon will construct two buildings – Millwrights Place and Coopers Court – which will rise to seven and 15 storeys in height.
Helen Gordon, Chief Executive of Grainger, said: “Demand for high-quality rental homes in Bristol continues to grow, and this scheme will add greater scale to our city cluster, improving our ability to drive efficiencies while delivering a great service to our customers.”
Peter Walford, Director of Cubex, said: “We are delighted to have closed our second high profile funding deal with Grainger in Bristol to provide additional new homes to our award winning Finzels Reach development.
“This next phase will also incorporate 66 new affordable homes alongside Halo, our 116,000 sq ft office building which we substantially pre-let to Osborne Clarke and forward funded with Tesco Pension Trust earlier this year.”