The regeneration scheme is being funded by the city council and government and the council say it will give the area a new lease of life.
The programme will revamp empty council-owned properties which have fallen into disrepair.
The city council will initially cover the cost of refurbishing the homes and will sell them for just £1. However, the new owners will have to pay back the cost of the refurbishment over a set period of time.
It is the first phase in a £3 million project which will see 124 long term empty homes in Portland Street and Bond Street areas brought back into use.
More top news
A man from Northampton has admitted climbing on to the roof of Parliament and causing £5,500 of damage in an eight-hour police stand-off.
10 years on from the infamous 'Birmingham Tornado', we ask what are the chances of the city being hit by another twister?
Pollen levels low through the middle of the week due to unsettled weather.