Work will start shortly on the harbourside site which has lain vacant for the last 20 years and was bought by Guinness Partnership three years ago.
Hill will provide 142 new-build homes for market sale, shared ownership and social rent as well as commercial space on the ground floor. It is estimated the project could be worth up to £25m.
Catriona Simons, chief executive of The Guinness Partnership, said: “We are delighted to be starting construction works at our McArthurs Yard site in Bristol.
“This development, which brings a long-derelict site back into use, will provide much-needed, high-quality homes.”
Andy Hill, chief executive, Hill Group, said: “This is the first scheme that Hill has embarked on in this thriving city
“This significant collaboration brings together our extensive expertise in delivering large placemaking schemes alongside their vast knowledge of providing affordable homes.”