St Joseph’s 21-storey Snow Hill Wharf development, on Shadwell Street, will have 404 apartments alongside the Birmingham and Fazeley Canal.
With planning permission now granted by Birmingham City Council, construction is expected to start in the summer.
Richard Starkey, managing director of St Joseph Homes, said: “Birmingham’s development is still in the ascendant, with record levels of both residential and commercial projects. While the Jewellery Quarter and Digbeth have attracted many investors, the Gun Quarter – with its rich cultural and industrial heritage – has remained a largely untapped area of huge potential.
“Our vision for Snow Hill Wharf is to create a landmark development that brings a new quality and standard of residential living to the city. Moreover, we are committed to the long-term delivery of a community that grows together and becomes an enviable place to live in the city centre.”
Snow Hill Wharf is Berkeley's first major development outside of the southeast.