In a report by the Southern Reporter, construction work will get underway next month.
The Scottish Borders Council also confirmed that the contract had been awarded to Graham Construction.
Graham has already built three new secondary schools on behalf of the council at Earlston, Duns and Eyemouth.
The new Peebles facility will include a 2G-synthetic pitch, sprint track and a long jump pit, as well as a four-court indoor games hall, a general purpose hall, fitness suite, classroom and changing facilities.
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The Council is understood to be putting £4.3m towards the scheme, with sportscotland contributing £500k.
Executive Member for Education, Councillor Sandy Aitchison, said: "I know that the staff and pupils are looking forward to using these new facilities."
While Culture, Sport, Youth and Communities Councillor, Vicky Davidson, added: "They [the new facilities] will be available for use by the community after school.
"They will be a great help to local sports teams and clubs as some of them currently have to travel out of Peebles for their training and matches."
Work on the facility is expected to begin in May and has a completion date of April 2014.
(JP/CD)
