Councillors joined representative from contractor, CCG (Scotland) for the groundbreaking on the site of the former St James Primary School.
The development at Lismore Drive includes 58 homes for local residents in a mix of two-, three- and four-bedroom houses, one- and two-bedroom cottage flats, two-bedroom bungalows and wheelchair-accessible bungalows.
Councillor Heather McVey, convener of communities and housing, said: "It's always an exciting and proud moment to cut the first sod to mark the beginning of another housing development.
"This is a significant project and is situated in the heart of a local community. Not only will it further develop the local area but it will grow the local economy too.
"Our new build homes are built to very high standards with energy efficiency measures to help save on running costs for tenants and they all meet Housing for Varying Needs, which means homes are more accessible to adapt to tenants' mobility needs. They are built for the future and will last for generations to come."
David Wylie, CCG managing director, said: "CCG are delighted to be on site at Lismore Drive with our strategic partner, North Lanarkshire Council. This new development will bring much-needed affordable housing to Coatbridge and we will ensure that all homes are delivered to the highest standards of quality and energy performance.
"As a direct result of our involvement, CCG will also be able to deliver a range of community benefits including jobs apprenticeships and work placements as well as donating to locally-based initiatives."