The 11-storey development at Edward Street will provide 63 homes for affordable rent and 68 for social rent and adds to the 12,000 homes managed by The Guinness Partnership in the Greater Manchester area and its 65,000 homes across England.
The development has been part funded by Homes England and the Greater Manchester Combined Authority Brownfield Housing Fund.
Caddick Construction is due to hand over the completed scheme in summer 2025.
Managing director Paul Dodsworth said: “The redevelopment of brownfield land is an extremely valuable way of meeting growing demand for affordable housing, and projects of this nature – particularly those in busy town centre environments – call for a great deal of care. Our project team, alongside the expertise of our colleagues in Caddick Civil Engineering, will ensure a high-quality project that serves the needs of the local community while causing minimal disruption to our neighbours.”
The start of construction was marked with a ground breaking event at the town centre site where The Guinness Partnership and Caddick Construction were joined by Greater Manchester mayor Andy Burnham and Stockport Council leader Mark Hunter.