The operator of private rented housing is working in partnership with local developer Urban Centric on the Dumballs Road site in the city centre.
The mix of one-bed and two-bed apartments will be built on the site of the former Browning Jones & Morris builders merchants premises.
Other features will include a residents' lounge, gym and communal roof terraces. There will also be a further 6,700 sq ft of ground-floor retail space spread across two units, one of which will be a convenience store.
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Stewart Knight, acquisitions director at PLATFORM_, said: "There is real momentum behind Cardiff and we look forward to getting on-site and delivering over 200 high quality homes for rent there.
"The site fits perfectly within our acquisitions strategy, being close to the railway station, city centre retail and established offices within a vibrant and growing city.
"We're actively seeking more sites, looking for opportunities to deliver 200 plus homes in major towns and cities across the UK, and we are more than willing to work with local partners."
The PLATFORM_ Cardiff development cements the company as the first UK build-to-rent firm to have developments across England, Scotland and Wales.
Work is expected to begin on site in Q2 of 2019, with completion expected in the first quarter of 2021.
(CM/JG)
