The site is opposite Belle Vale Shopping centre in south-east Liverpool.
The scheme will include 42 apartments for the over-55s, 14 flats for affordable rent and 12 flats and two bungalows for low-cost home ownership.
The new housing will be completed in December 2014. In addition to creating new homes, the scheme will give local people opportunities for apprenticeship training through Riverside’s Springboard initiative.
Lovell regional director Nigel Yates said: “This scheme will create high-quality extra care homes providing older residents with the opportunity to live independently whilst knowing that help is available should they need it. In addition, it will meet the demand for new affordable homes for rent locally as well as delivering homes for low-cost home ownership, enabling local people to take their first step on to the housing ladder.”
Riverside’s project manager, Annette Dennett said: “The over-55s’ scheme will provide a range of housing, from extra care and elderly supported housing, to more independent living. The project is just one element of our much wider programme of regeneration of the Lee Valley area.”