The redevelopment of the 17-hectare plot at Oscar Traynor Road, near the entrance to the Port Tunnel, has been planned for a number of years.
Glenveagh will construct a mixture of private, social and affordable homes five kilometres from the city centre.
More details are expected to be announced later this month.
According to The Irish Times, Glenveagh has said they will have capacity to provide 1,000 homes next year, as the demand for starter homes remains high.
The company's interim update, published on Tuesday, stated that 123 units had been sold in the first half of this year, down from 153 units for the same period in 2019.
The €37 million revenue raised through the sale of the units is in spite of the lengthily closure of Glenveagh's sites due to the Covid-19 pandemic from March 29th to May 18th.
Chief executive Stephen Garvey said: "I think Covid has been a difficult thing to deal with and one thing we can say is that the construction sector overall has embraced the change as well.”
“The continued strong demand from our private customers on the group’s starter-home developments and the robust performance of the private rented sector during the period is encouraging,” he added.
