Galliford Try Partnerships will deliver two new housing projects after purchasing the Tower and Fort Works site in Graiseley and the former Tap Works site in Low Hill from Bouygues.
A total of 150 new homes will be developed for the Tap Works scheme, while 77 homes will be delivered at the historic Great Brickkiln Street location.
Construction is expected to start towards the end of the summer and should be completed by the end of 2020.
Cllr Peter Bilson said: "We are delighted we have been able to secure a developer of Galliford Try Partnerships' quality for these 2 very important housing regeneration schemes in the City of Wolverhampton.
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"This is an exciting time for house building in the city with a host of projects springing up to benefit everyone.
"Work on these 2 sites supports the house building programme and will deliver quality homes for all."
Stephen Teagle, Chief Executive of Galliford Try Partnerships, added: "We are really pleased to step in and work with City of Wolverhampton Council to progress the proposals at Tap Works and Tower and Fort Works. Our intervention ensures these significant projects are delivered as originally agreed.
"We are renowned for our regeneration expertise and our ability to work with partners to unlock the true value of many challenging sites. Thanks to our strong regional presence, we can bring forward both of these important developments without the need to change the proposed tenures or delivery timescales."
Image: An artist's impression of what the Tower and Fort Works housing development will look like.
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