Plans for the West Midlands Construction University Technical College (WMCUTC) have been approved by the city council.
Principal contractors Thomas Vale and technical services providers Mott MacDonald are now due to start preparatory work for the new build.
Earlier this year, the university purchased the 12 acre Springfield Brewery site in Wolverhampton city centre.
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It revealed plans worth £70m to transform the area into a modern construction and skills campus and business park.
The Springfield Campus will become the home of the new WMCUTC.
The university will sponsor the campus along with the Construction Industry Training Board (CITB).
Designed by Associated Architects, the development will involve converting part of the site, including a Grade II listed building as well as building a three-storey extension.
The WMCUTC will provide education for up to 600 14- to 19-year-olds specialising in construction and application of IT in the built environment.
The UTC will open on a temporary site this month at the former Northicote School site and be known as the Northwood Park Campus.
It will eventually move to the new purpose built facility at Springfield.
Vice-Chancellor of the University, Professor Geoff Layer, said: "The University is incredibly proud to have invested in such a fantastic opportunity for the future generation of construction and built environment professionals."
(LM)
