Dandara Limited has instructed the company to build a four-building development located in the south side of Leeds city centre.
The development will offer one-, two- and three-bedroom apartments, as well as a number of studio-style options.
The scheme will also include landscaped areas, basement car parking, access control and a dedicated area for concierge and management services.
Debbie White, chief executive of Interserve, said: “This contract is an exciting addition to Interserve’s growing portfolio of accommodation projects and adds to our already extensive presence in the Yorkshire region.
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“We look forward to playing a central role in the regeneration of Leeds city centre, and creating much-needed new homes in the area.”
Sean O’Connor, project director at Dandara, added: “The private rental sector (PRS) is already providing accommodation and can help deliver the homes needed by those who want to live and work in Leeds and other major UK cities.
“This project will create numerous local employment opportunities and we look forward to working with Interserve to deliver these 744, high-quality PRS apartments in the city centre.”
Work on the site has already commenced and has been scheduled for completion in June 2019.