The 16,055 sq m project is located on Broad Street and will be the second building to be delivered as part of Regal (West Point) Ltd's The Bank scheme. Work is now underway and completion is expected for autumn 2019.
Designed by Glancy Nicholls Architects, features include 205 apartments and ground floor retail space open to the public.
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Work on the first building, which is also being delivered by Wates, was recently marked with a topping out ceremony. Featuring 189 studio, one and two bedroom apartments, the first tenants are set to start arriving in July 2018.
John Carlin, Business Unit Director, Wates Construction Midlands, said: "When complete, the two buildings of The Bank will be a benchmark for urban residential schemes in Birmingham.
"This is an incredibly exciting time for the city, with HSBC's relocation of its UK headquarters to 1 Centenary Square, HS2 set to revolutionise the region's transport offering and it being selected as the preferred British bidder for the Commonwealth Games in 2022.
"Our work at The Bank will provide Birmingham with two new buildings befitting its growing status as a vibrant, cosmopolitan and enterprising city."
(LM/MH)
