Balfour Beatty has won an £80m contract to design and build a 19-storey student accommodation block on Westminster Bridge Road.
The block, which will provide 1,092 student bedrooms, is being contracted by accommodation provider Urbanest, and will also include a new sixth-form college and affordable office space.
It will sit in close proximity to both the South Bank Conservation Area and the Westminster World Heritage Site.
Main construction is due to begin this summer, with completion in time for the start of the 2015 academic year.
The site will employ 500 people at peak.
Balfour has worked with Urbanest on four previous student projects worth a total of £100m.
Photovoltaic panels and combined heat and power technology will be used.
Balfour Beatty chief executive Andrew McNaughton said: “The dynamic student accommodation market is a key growth area for Balfour Beatty around the world. We look forward to bringing our knowledge and expertise of sustainable construction methods to this project, our fifth prestigious scheme for Urbanest, in the heart of the capital.
“In partnership with Urbanest, we have committed to a range of employment and training initiatives including the creation of 40 apprenticeships to ensure the project generates tangible benefits for the local community.”