Work is underway on a multi-million-pound apartments scheme behind Nottingham Railway Station.
The project, on vacant land in Queens Road, was given the go-ahead in 2019 and workers are now on the ground.
Grainger, a company which provides rented homes, agreed to buy the site for £55.6m last year.
The vast development is to build a 348- bed apartment block.
Helen Gordon, chief executive of Grainger, said: “We are pleased to progress with our Nottingham development, which, upon completion, will provide 348 new high-quality rental homes, all professionally managed by an in-house Grainger service team.
"Nottingham has a vibrant community with a strong and growing demand for renting and our Queens Road development will offer renters in the city a great home, great value, flexible and long-term agreements, and a range of resident amenities, including co-working space and superfast highspeed broadband included within the rent.
"Grainger’s homes appeal to a diverse range of renters - from young professionals through to families and downsizers.
"We look forward to sharing updates as the development progresses.”
The company agreed buy the site from Blocwork LLP, a joint venture between Network Rail and Bloc Group set up to develop rail side sites nationally.
At the time, David Biggs, managing director of Network Rail Property, said: “The Nottingham development is a fantastic example of Network Rail working closely with the private sector to deliver vital new homes on land no longer required by the operational railway.
"The investment by Grainger points to the growing appetite in the sector for viable build-to-rent schemes, and we are pleased this early investment has been secured.”
When it was reported the site had been bought, local residents had mixed views on the scheme - and one said "it should also help bring more money to the city".
Meanwhile, work has also started on a separate project to transform a derelict office spot, in nearby Traffic Street, into a £35m student flats complex.
