The scheme on Batson Street is being delivered by CCG on behalf of Glasgow Housing Association, part of Wheatley Group.
The development, located on the site of the former Victoria Primary School, will comprise of 40 flats and five houses, including 25 car parking spaces and a central landscaped courtyard with shared drying areas and amenities. In addition, solar photovoltaic panels will be installed at the new homes.
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Work is scheduled to be completed by spring next year.
David Fletcher, Wheatley Group Director of Regeneration, said: "These modern, stylish, energy-efficient homes will make a big difference to this part of the city.
"Wheatley is dedicated to increasing the supply of affordable housing across Glasgow and mid-market rent is a good option for people who may not qualify for social housing."
Calum Murray, Director of CCG, said: "Batson street represents one of several projects due to be delivered with Wheatley Group in 2018 and CCG are delighted to continue our long-standing partnership in delivering high-quality, affordable housing in Glasgow.
"This is an exciting new development which will bring much needed affordable housing to Govanhill and through our capabilities in offsite manufacturing and construction, residents are set to benefit from enhanced levels of environmental performance and reduced energy bills."
(LM)
