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Housing Minister Margaret Ritchie said the project is scheduled for completion by September 2009, and will see 27 social housing units side by side numerous private apartments in the area.
Ms Ritchie said: "This is good news for the people of East Belfast and the Short Strand area. Pottingers Quay is a prime example of integrating the riverfront with local communities. But that shouldn't just be for the benefit of the private sector.
"The development at Pottingers Quay reflects that, in an attractive city centre neighbourhood. It also shows just what the public and private sector can do working in tandem."
The Minister was joined by Dado Developments, Clanmil Housing Association and the Northern Ireland Housing Executive.
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Chris Kennedy, of Dado Developments said: "We are delighted to have been involved in the creation of such a high quality living environment at such a popular and sought after riverfront location.
"The energy and commitment of all involved from the Boyd Partnership to J Kennedy Contractors working in close harmony with the public sector is testament to how investment can be targeted to regenerate and transform an area to meet the housing demands of all parts of our community."
Clare McCarty, Chief Executive of Clanmil Housing said: "As one of Northern Ireland's leading housing associations, Clanmil is always seeking opportunities to increase the social housing provision in areas of housing need.
"At Pottinger's Quay, a site partly designated for social use under the Laganside initiative, Clanmil has worked in partnership with the private sector and local community representatives to deliver quality waterfront homes in an area where demand for social housing is particularly high," said Ms McCarty.
"Clanmil is fully committed to the benefits of successfully mixing private and social housing and we are really looking forward to handing these homes over to our new tenants in the Autumn," she added.
The Minister also acknowledged the role of the Northern Ireland Housing Executive, who had been working alongside Clanmil Housing Association and the developers to provide social housing in an area of high demand.
(PR/JM)
