The 165-unit development represents Essex-based Hill’s first development in the southwest of England.
Construction is set to start on site in late 2020, with the first homes expected to be complete in autumn 2022.
The site is owned by the council and currently used by the Baltic Wharf Caravan Club.
The development will comprise a range of sizes and tenure types, with approximately 100 of the flats being for private sale. More than 3,000 sq ft of commercial space will also be provided.
Designed by architect JTP Studios, the development has been inspired by the city’s former industrial dockland, with designs said to reflect the vernacular of Underfall Yard, the former timber yard.
Andy Hill, chief executive of Hill, said: “We’re delighted to be working on our first joint venture with Goram Homes in Bristol. Together, we’re creating an exciting new community that is inspired by the surrounding streetscape and harbourside history. The scheme will see the area transformed into a fantastic new waterside location, with a new public square, wildlife-friendly green spaces and commercial units that will add significant value to Baltic Wharf.
“We’re very excited to also be expanding our geography into the southwest of England, building further on the successes we’ve had in the southeast as a leading provider of distinctive, quality homes. It’s a very exciting time for our business and we’re looking forward to bringing many more homes to the region.”