The £41m first phase sees the construction of 108 private rented sector apartments for the UK's largest listed residential landlord, Grainger. Construction is expected to complete in early summer 2021.
It is part of a wider £100m development planned by Waterside Places, a joint venture of Muse Developments and the Canal & River Trust.
As reported last November, Grainger has agreed to forward fund and acquire a building within the wider Hale Wharf scheme.
Waterside Places chairman Nigel Franklin said: "We're delighted to now be on site for the first phase at Hale Wharf, which will be delivered by McLaren Construction and look forward to working closely both with them and Grainger over the coming months. Our focus is to deliver high-quality urban waterfront schemes that deliver diverse and sustainable places.
“Hale Wharf is an exciting development at the heart of one of the Mayor of London's Housing Zones. Once complete, the wider scheme will deliver up to 505 high-quality canal-side homes, extensive public realm improvements, along with a range of commercial and leisure space."
Grainger chief executive Helen Gordon said: "Today is another step forward in Grainger's ambitious plans to deliver thousands of new homes across the UK, specifically for renters. Since setting out our plans in 2016, we have committed £1.9bn of investment into the UK private rented sector, and our investment plans continue unabated, with strong market fundamentals underpinning a strong and growing demand for renting in the UK.
"We are pleased with the swift progress to commence construction at Hale Wharf, as well as the progress made across our other two PRS development schemes in Haringey. Last week saw the topping out of our 22 storey PRS development, Apex House, and earlier in the year we received confirmation from the secretary of state that the compulsory purchase order required for our Seven Sisters scheme can proceed. Across these three schemes we will be delivering 467 much needed new homes to this part of North London over the next two to three years."