The historic student hall of residence has an illustrious past spanning almost seven decades.
First opened in 1951, it was home to Prince Charles during his time as a student in Aberystwyth and has been a dedicated Welsh-language hall since 1973.
Rob Williams, Morgan Sindall Construction area director, said that construction would start on 3 June and be completed in time for the new academic year in 2020.
Morgan Sindall Construction picked up the high-profile project through the South and Mid Wales Collaborative Construction Framework.
It will carry out sympathetic external renovation, along with internal refurbishments spanning 70,000 sq ft.
The work will create contemporary, en suite bedrooms, with high-speed internet access for up to 200 students.