The site was acquired from Aberdeen City Council in February 2014 subject to planning permission, which was granted in December 2014.
It is currently occupied by the derelict listed Causewayend school building, which has been left vacant and has succumb to vandalism.
Development proposals are set to regenerate the site and surrounding area with refurbishment to the stone façade, a new roof for the school building and replacement sash windows.
The 120,000 square foot scheme will provide a home for 399 students. The school building will house 16% of the bedrooms, with the remaining rooms being built in a new six-storey property adjacent to the property.
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Work is expected to be completed in time for the 2016/17 academic year.
Causewayend will be Unite's fifth property in Aberdeen and is located close to existing student accommodation in the city centre.
Richard Simpson, Managing Director of Property for Unite Students, commented: "We are very pleased to have completed the purchase of our fifth site in Aberdeen, where we already provide a home for over 1,300 students. Aberdeen has a large and growing student population and there is a critical shortage of purpose built student accommodation.
"We are pleased to be able to help ease the pressure on the local student property market and provide a safe and secure home for students that supports their success, as well as regenerating a listed local landmark which has remained derelict for some time."
Aberdeen City Council's Communities, Housing and Infrastructure convener Councillor Neil Cooney, said: "Student accommodation is at a premium in Aberdeen and so this important new development will make a significant difference in this sector of the market. The City Council has well-developed policies and plans in place to address the shortage of affordable accommodation in the city, including in the rental sector, and I am delighted that Unite is ready to develop the Causewayend site to help us achieve our aims."
(IT/JP)
