Portus Property is developing the site at 209-211 High St, which was where the former Excelsior Hotel was located before being destroyed in the earthquakes.
The brand new building will include three upper office floors and a ground floor with retail and hospitality offerings.
Constructed in mass timber to reduce embodied carbon and with a focus on energy efficient services, 211 High will be "an important and responsible addition to the Christchurch CBD", the Portus website stated.
"209-211 High Street has been a part of Christchurch history since the 1800s."