Work has commenced at the former Brent House and developers who bought the block have insisted some of the apartments will be "affordable".
The Wembley High Road site's sale was completed in December 2016 by Henley Homes, who will be building 248 apartments as part of a wider regeneration of the area.
The 1.9 acre site will be transformed in three years following the £76 million sale and is set to include a new retail hub alongside the homes.
Adil Rashid, Land Director at Henley Homes, said: "Brent House will be our first delivery entirely for a housing association, giving us the opportunity to create a unique development."
They have said out of the 248 apartments, 30% will be "affordable", although prices are yet to be revealed.
Genesis Housing Association, who are working with Henley Homes and are the largest housing association landlord in Brent, said they are "creating a vibrant new mixed tenure community delivering affordability".
Executive Director Jeremy Stibbe at the company said: "We’re delighted that works for this exciting project are underway and look forward to working closely with Henley Homes as the plans take shape."
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