The contract was awarded by Wapping Wharf Living, a joint venture between developers Umberslade and Muse.
The Wapping Wharf development, on Bristol’s harbourside, comprises more than 200 homes as well as shops, restaurants and cafes.
Wapping Wharf Living has secured £23.4m from Homes England’s Home Building Fund to support phase two.
As part of the works, Balfour Beatty will build two apartments blocks comprising 256 flats as well as four retail units spanning 659 m2, and car and bicycle parking.
In addition, Balfour Beatty will retain and restore the early 19th Century, Grade II listed Gaol Gate and Gaol Wall structures which will act as a pedestrian feature entrance to the residential buildings.
Balfour Beatty has been working in collaboration with Wapping Wharf Living since 2017 on an early engagement basis, enabling it to play an instrumental part in the design, methodology and logistics of the project.
Works are scheduled to start in May 2018 and complete in 2020.
Regional managing director Jonathan Winter said: “There has been significant interest from the local community in the redevelopment of this historic part of the iconic Floating Harbour. We look forward to delivering the next phase of this exciting new quarter in the heart of Bristol where people can live, shop, eat and relax by the city’s waterfront.”