The site on Gateshead's quayside will create 269 one and two-bed apartments for rent, as well as commercial space, flexible offices, coffee shops and restaurants.
Specialist remediation works began at the start of November to clean up the former oil storage depot site, which is expected to continue until spring 2022.
Following these works, Tolent will then begin the main construction work on behalf of client Edmond de Rothschild Real Estate Investment Management (REIM).
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The scheme also marks the latest collaboration between Tolent and Newcastle-based DPP Planning. Having secured planning permission for the original development, DPP has been retained by REIM and Tolent to manage post-decision planning requirements, which includes the details on managing the groundworks and areas such as decisions over the final materials and signage.
Steve Church, contracts manager for Tolent, said: "This is a hugely significant project for the city and we’re delighted to be a part of the ongoing regeneration of Gateshead's quayside.
"With a wealth of experience in the residential sector across the North East, including projects like Hadrian's Tower in Newcastle and the mixed-use, £85m Milburngate development in Durham, this will be another fantastic project we can proudly put out name to.
"We're also pleased to again be working with DPP on another landmark North East project continuing the excellent relationship our two businesses have."
