Work is expected to start on the £43m development in May with the developers securing support from Homes England.
Wapping Wharf Living – a joint venture between developers Umberslade and Muse – has secured £23.4m funding from Homes England towards the second phase, which is set to deliver over 250 new homes.
The funding comes from Homes England’s Home Building Fund, which provides finance to help unlock or accelerate the delivery of residential and mixed-use housing schemes.
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“It’s very exciting to be able to embark on the next phase of building the community at Wapping Wharf and it’s thanks to an enormous amount of hard work from all of our partners that we’re now able to give this the go-ahead,” said Stuart Hatton, director at Umberslade.
“We’re delighted with the way that Bristol has welcomed Wapping Wharf and that we can take another step in transforming this once-derelict site into a thriving neighbourhood for the city.”
The new homes are set to come on the market in 2019.