Vistry Group inked a £19m deal with Anchor, a provider of housing for people in later life, to build affordable homes in Edwalton, East Midlands.
The development, built on brownfield land, will consist of 77 one- and two-bedroom flats, located to the south of Nottingham and the River Trent in an area of West Bridgford.
Work to build facilities with access to communal areas will start next month.