Under a £75m contract, Galliford Try will build 249 homes for private rent and amenity areas across three new blocks.
ICG Real Estate has provided the debt funding facility to the joint venture.
Alongside the new BtR homes, the developer joint venture has also appointed Midgard, part of the JRL group, to build the market-sale residential building, The Ashbee, featuring 107 new homes.
Barclays Bank provided the debt funding facility for the building to the joint venture.
Midgard is already on site delivering another market sale building, The Delamarre, featuring 170 homes for the joint venture.
The firm is also constructing 120 new affordable homes in partnership with Related Argent, Barnet Council and L&Q.
The architect for both the BtR building and The Ashbee is Squire & Partners. Conran and Partners is designing the interiors for the new BtR homes and Woods Bagot is designing the interiors for The Ashbee.
The new BtR homes are part of the 180-acre Brent Cross Town regeneration scheme, which is being delivered in partnership by Barnet Council and Related Argent.
The start of construction adds to the growing momentum at Brent Cross Town with five buildings underway, which will be completed from the end of 2024.