The £30 million accommodation was designed by GSS Architecture and will provide accommodation for 560 students.
Plans include to build eight bedroom flats alongside a smaller number of four-bedroom, deluxe, studio and wheelchair-accessible flats.
Community social and learning spaces will also be developed.
Professor Calie Pistorius, Vice-Chancellor of the University, said: "Improving the campus – including the provision of more accommodation – is pivotal to the University’s future.
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"In order to be competitive in higher education and be well placed to attract quality students and staff from the UK and around the world, we must ensure that the estate meets our academic and business needs."
Managing Director of Sewell Group, Paul Sewell, said: "It is a pleasure and a privilege to be carrying out such a significant and prestigious project for our own University, in our own city. The benefit of the completed project to the University will match the benefit to the local economy."
The development is part of the University's campus plan, following the £28 million refurbishment of the Brynmor Jones Library.
It is anticipated the project will be completed in 2016.
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