The scheme will be located on a 12.7 hectare site at Hengrove Park near Whitchurch Lane.
Proposals include building 259 homes ranging from one-bedroom flats to four-bedroom houses. In addition, 30% of the housing will be made affordable.
The project forms part of phase one of the Park's regeneration, the first three elements of which included the City of Bristol Academy, the South Bristol Community Hospital completed in 2011, and the Hengrove Leisure Centre delivered by Kier in 2012.
The scheme is subject to public consultation and planning consent, while designs for the site will be developed over the next few months.
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Planning permission for the project will be be submitted in April 2016.
Chris King, MD of Kier Living's central operations, said: "Kier has a proud history in delivering regeneration projects in Hengrove Park, having previously worked with Bristol City Council on the successful Hengrove Leisure Centre scheme, and we are delighted to continue this relationship as the developer partner for this priority strategic development opportunity.
"Working closely with our partners and other local stakeholders we aim to create a vibrant and sustainable community centred new neighbourhood, which will enhance the lives of the residents and visitors alike."
George Ferguson, Mayor of Bristol, added: "This is great news and finally unlocks Bristol's biggest remaining opportunity for new family homes in the south of the city.
"I'm delighted that we are going to be working in partnership with the private sector to deliver over 250 houses and flats, including 78 much-needed affordable homes.
"This development is the first phase of a plan to regenerate Hengrove Park with hundreds more homes and landscaped park that will attract new investment and services to the area."
(LM/JP)
