Barnet and Southgate College has announced plans to open its new campus in September 2016.
Building work on relocating the college from its current site in Grahame Park, to Lanacre Avenue, Colindale, will kick off in 2015.
The project forms part of a £550m regeneration project led by Genesis Housing Association with Barnet Borough Council and Countryside Properties PLC.
Over the next 18 years, 3,000 new homes will be built on the site and a new Sainsburys is set to open next year.
The new college will still focus on hairdressing and construction courses, and have a trainee salon on the ground floor where members of the public can have haircuts.
David Byrne, principal of Barnet and Southgate College, said: “We are proud of securing an investment that will create an outstanding College asset in the heart of this major regeneration development.
“This is great news for our future students and good for the community as a whole.”
Andrew Travers, chief executive at Barnet Council, said: “The new Barnet College is an important part of the jigsaw in the redevelopment of Grahame Park.
“The next key piece will be to make the most of the chancellor’s commitment and bring forward the replacement of the concourse. That will really transform the area.”