The project, which secured planning permission this week, includes two towers called Riverside and Riverview and will operate under the developer’s private rented sector brand, Affinity Living.
Carillion has been chosen as the preferred contractor on the job, with enabling works set to begin in October.
Riverside is scheduled for completion at the end of Q1 2018, followed by Riverview in Q4 2019.
This is the third planning approval secured by Select’s Affinity Living residential brand, after permission was granted for 677 apartments at Circle Square last month, the first phase of which is being built by Wates.
It was also granted planning for 684 apartments at Embankment West in May, which is being delivered by Carillion.
Select chief executive Mark Stott said the Riverside scheme “promises to bring something exceptional” for young professionals looking for rented accommodation near Manchester city centre.
Select’s other brands include high-end student accommodation provide Vita Student, and luxury rental apartments business City Suites.