Keepmoat Homes is delivering the city centre regeneration scheme in partnership with Leicester City Council and Brackley Property Developments, which is constructing the office accommodation.
The partnership is redeveloping an 18-acre brownfield site next to the Grand Union Canal and River Soar.
The housing is a mix of apartments and town-house style. Work is expected to take six years to complete but the first homes should be available to purchase in summer 2021.
Keepmoat Homes regional managing director Shaun Fielding said: “We have worked collaboratively with the city’s design team to create a development of bespoke houses and apartments formed within an incredible urban layout which will be award winning, I have no doubt.”
Leicester mayor Peter Soulsby said: “The regeneration of the Waterside area represents a tremendous opportunity for the city’s growth and future prosperity, by creating great new places to live, space for business to flourish and much better access to our beautiful riverside.”