Construction will finally resume on the stalled high-rise at Regatta Quay in Ipswich in January 2018.
RG Carter Construction is expected to complete the development of 149 flats and 5,000 square feet of commercial space by the end of 2020.
The original developer, City Living, ran out of money and went into administration in January 2010. Ipswich Wharf Developments is now leading the project.
The Homes & Communities Agency (HCA) is investing £15m in the development, along with £5m from New Anglia Local Enterprise Partnership (LEP).
James Wilson, director and general manager of RG Carter Ipswich, said: “RG Carter is delighted to be delivering this exciting project and is proud to play a part in the town’s vision for regeneration.”