Contractor Forrest has been appointed by X1 Developments to build phase one of X1 Eastbank, a 310-apartment project in New Islington, Manchester.
The eight-storey building directly off Great Ancoats Street starts on site later this month with completion due summer 2016.
The block will be made up of 111 one-, two- and three-bedroom apartments.
DK-Architects designed the scheme.
Sean Connor, project director at Forrest, said: "This is a significant milestone for the business. We've built up a strong presence on a national level for our work and are excited to be using our expertise to construct such a high profile building"
Melissa Green, head of operations at X1, said: "We are excited to begin works at X1 Eastbank in conjunction with both Forrest and DK-Architects. Having already launched several successful PRS developments in the Manchester area, X1 is delighted to continue to contribute to this area of high rental demand, which is experiencing a durable under-supply of housing."
X1 Developments is a UK-based residential developer and investor, founded in Liverpool. Current projects include the £13.6m Exchange in Salford Quays, and the £7m Edge scheme in Liverpool.