The Sandy Loan scheme is a finalist in the Affordable Housing Development category.
It consists of 15 two-bedroom apartments in Broughty Ferry and was designed by architect Heinz Voigt of The Voigt Partnership.
In addition, the scheme was delivered by Dundee City Council, Scottish Futures Trust and Ferrier Holdings Ltd.
The properties are managed by Northern Housing Company, part of the Hillcrest Group of Companies.
Fiona Morrison, Chief Executive of the Hillcrest Group of Companies, said: "We are delighted that the judges have included Sandy Loan in their shortlist for the awards.
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"Thanks to the innovative NHT initiative and the good work of our partners, the development is giving people and families an opportunity to initially rent and then move into owner occupation in a desirable and previous unattainable area.
"Sandy Loan has proved to be extremely popular, with all 15 units in the development have been fully occupied since they were completed over a year ago."
Cllr John Alexander said: "This is a tremendous endorsement for the high quality properties delivered by Ferrier's.
"This scheme delivered much needed quality housing, in an area of the city in which it has been traditionally difficult to build affordably priced homes in.
"This project has offered an opportunity for residents to enter home ownership after 5 to 10 years of mid-market rent. This is one area of a wider programme of investing in different types of housing in Dundee."
Winners will be announced at the awards ceremony at The Edinburgh Corn Exchange on 16 June.
(LM)
