The £50m project forms part of the wider Broadmarsh shopping centre redevelopment to be constructed by Sir Robert McAlpine.
Demolition work is expected to get underway shortly on the existing 1970s car park with work on the new car park and bus station starting early next year to complete in late 2019.
The replacement scheme will include a smarter cap park, bus station, space for shops and flats on the Carrington Street elevation.
More details are available from the website.