The new additions to the £500m development include a 90-metre tower with 165 apartments and the construction of 103 new low-rise homes made up of apartments and houses.
More than 850 apartments and homes have already been completed to date at Centenary Quay and the next phases take the development a step closer to the 1,620 homes that are planned.
As part of construction works for these two new phases, the existing public riverside walkway will be extended and new public amenity space created.
The development is on the site of the former Vosper Thornycroft shipbuilding yard. Work first began in 2009 but stalled over financial viability concerns. A loan deal with Homes England has got the project moving again.
Crest Nicholson Regeneration managing director Scott Black said: “Centenary Quay is a hugely successful regeneration scheme, with the development already flourishing into a new vibrant community. Our landmark £500m regeneration of Woolston Waterside has breathed new life into a previously derelict area of Southampton.
“Centenary Quay has not only delivered much needed private affordable and rental homes for local people, it has also positively impacted the local economy through direct and indirect employment. Crest Nicholson is continuing to invest in Centenary Quay and I look forward to seeing the scheme progress and our partnership with Homes England grow.”
Stephen Kinsella, executive director for land at Homes England, said: “This new phase of development will create one of the tallest residential buildings in the city and really make the most of the waterfront presence of Centenary Quay. We’re committed to the growth of a new, sustainable community for people in Southampton and this latest stage of development will provide homes with good access to new employment and leisure opportunities.”