Braintree District Council selected Kier to build the Manor Street mixed-use scheme on a site behind the town hall.
It will include a 70-room hotel, 35 homes, bus interchange, two-storey car park, cafe and medical centre.
Work is due to start in early 2020, with works being completed in 2022.
This latest win extends Kier’s track record for small-scale town centre regeneration schemes.
It has previously delivered Reading Gateway, a 109,000 sq ft scheme adjacent to Junction 11 of the M4 which includes a Premier Inn hotel, retail units and a car dealership.
Mark Dady, managing director at Kier Regional Building Eastern, said: “We work extremely hard to leave a positive footprint on the areas we work in and throughout this project we will be committed to engaging with the local community and working closely with local subcontractors.”
Cllr John McKee, Cabinet Member for Corporate Transformation, at Braintree District Council said: “Without our investment as a local authority, these improvements to health facilities, the bus station and town centre would just not happen. ”