The scheme designed by Níall McLaughlin Architects for Balliol College will involve demolition of several buildings to make way for the new scheme.
In their place builders will erect a sports pavillion, a ‘barn-like’ assembly space and accommodation for over 200 students.
City planners passed the development plan for the corner of Jowett Walk and St Cross Road on the grounds it would provide needed student accommodation with a design that fits in with the special character and setting of nearby buildings.
The building process will take place in two phases, with the first building expected to open in spring 2019 and the completion and occupation of the rest by January 2021.
College master, Professor Sir Drummond Bone, said: “The project as a whole will transform our accommodation offering to both undergraduates and postgraduates.”
The client project team includes structural and civil engineer Smith and Wallwork and MEP Engineer Harley Haddow. Gleeds is providing cost consultancy with Bidwells acting as project manager.