The plans are the second phase of the 11-acre New Garden Square masterplan, which will feature over 2,000 homes and £6m of public realm.
Winvic has already started work to build nearly 400 rental flats in a block, called The Mercian, due for completion later this year.
The latest block will tower above this project with a roof terrace, 24-hour gym, co-working space and resident lounges
Up to 425 jobs are expected to be created during the construction phase.
James Blakey, planning director at Moda Group, said: “These plans represent a huge step forward for the next phase of the New Garden Square masterplan, bringing us closer to delivering additional much-needed, high-quality new homes for Edgbaston with substantial public space next to Edgbaston Village metro station.”