A disused railway embankment in Bristol city centre is set to be transformed under plans.
London-headquartered developer Watkin Jones has signed a development partnership to deliver a 200-bed purpose built student accommodation (PBSA) block on Freestone Road, near to Temple Meads station.
The scheme is part of the wider regeneration of the Bristol Temple Quarter Enterprise Zone.
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The transaction is expected to deliver revenue in excess of £28m over the development period, with construction scheduled to complete ahead of the 2027 academic year.
The firm said the scheme would transform the disused site into a "vibrant" new community.
Alex Pease, chief executive of Watkin Jones, said: “This project demonstrates our ability to implement our strategy to diversify our revenue streams.
"Whilst the market remains challenging, with constrained liquidity for new development, we are encouraged by the continued desire from institutional investors to partner with Watkin Jones to leverage our proven expertise in residential development and construction. We look forward to the successful delivery of this project.”
The Freestone Road development is Watkin Jones' latest in the West of England. The company recently completed on a 260-unit PBSA scheme on Gas Lane in Bristol.
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It is also behind a 335-bed scheme in Bath and an 819-bed Metalworks scheme in Bedminster, in Bristol.
Last year, the company also set out proposals to transform a plot of brownfield land, on Avon Street near Temple Meads station, into a 374-bed student block.
The area earmarked for regeneration is the former ATS tyre centre next to Motion nightclub, which is within a short walk of the new £300m University of Bristol Temple Quarter enterprise campus.