The company will complete a 27-storey tower consisting of 165 apartments, and 103 new low-rise homes made up of apartments and houses as part of the next two phases of Centenary Quay.
A development agreement for the work was signed with Homes England.
This follows on from the first phases of work which have already delivered over 850 apartments and homes on the site.
Crest Nicholson will also extend the existing public riverside walkway, as well as build new public amenity spaces.
Scott Black, Managing Director at Crest Nicholson Regeneration, said: "Centenary Quay is a hugely successful regeneration scheme, with the development already flourishing into a new vibrant community. Our landmark £500m regeneration of Woolston Waterside has breathed new life into a previously derelict area of Southampton.
-- Advertisement --
"Centenary Quay has not only delivered much needed private affordable and rental homes for local people, it has also positively impacted the local economy through direct and indirect employment. Crest Nicholson is continuing to invest in Centenary Quay and I look forward to seeing the scheme progress and our partnership with Homes England grow."
Stephen Kinsella, Executive Director for Land at Homes England, added: "This new phase of development will create one of the tallest residential buildings in the city and really make the most of the waterfront presence of Centenary Quay.
"We're committed to the growth of a new, sustainable community for people in Southampton and this latest stage of development will provide homes with good access to new employment and leisure opportunities."
A total of 46 of the Crest Nicholson homes will be shared-ownership properties, continuing the housebuilder's commitment to affordable housing.
(CM/JG)
