Bondholder Birchover Sales and Lettings is set to market a major new housing complex within walking distance of the city centre.
Work has commenced on Kings Crescent, a four-storey development of apartments and townhouses on the site of the former 19th-century Derby School Chapel.
The development will include a mixture of one and two-bedroom luxury apartments, including penthouse suites and three spacious town houses.
The residential site is being developed by Nine Investments.
Laura Etheridge, Managing Director for Birchover Sales and Lettings, said: "This is surely the most breathtaking new residential building in Derby for decades.
"We are so proud and privileged to be associated with this iconic development and have no doubt that people will want to live in these stunning homes.”