Work will start on site in the next few weeks for the club’s development partner MCD.
Kier will build the the 62 apartment block which will be the first of three towers.
The apartments will help fund the wider redevelopment including a new pavilion, cricket school, car park, public square and bridge
Keith Brown, Chairman of the Ground Development Committee of Essex Cricket Club said “This project has been in gestation for a decade and had been delayed because of the economic and financial climate.
“It is, therefore, an immense relief that this first phase can start.
“Once the cranes appear and the building is seen to be physically underway, the existing strong interest in the first phase will we are sure be amplified on the next phase of the development. It will be the most iconic and prestigious development in Chelmsford.
“Chelmsford City Council has been most supportive in wishing to see the redevelopment of the County Ground and ensuring that it will remain the home of Essex Cricket for many years.”