Designed by The Harris Partnership, the first phase will provide 242 build-to-rent apartments for the private rental sector operator, Grainger.
The development on Wellington Street will include one and two-bedroom apartments over 18 storeys with views across the River Aire.
The proposal includes shops and residents amenity areas, including a gym and eleventh floor bronze-clad sky lounge. It will also feature an outdoor public area, improved cycle links to the city centre and an enhanced river corridor.
The site was cleared in 2014 and work is scheduled for completion in Spring 2021.