Construction crews have made watertight a five-storey building on Langdon Road which will house a 132-bedroom Premier Inn hotel, a 4,500sqft Tesco Express store and a Beefeater restaurant.
The development is expected to create around 90 new jobs, with Tesco being the first to open its doors in October, with around 20 jobs.
SA1 Waterfront, Prince of Wales Dock
Meanwhile, Whitbread is looking to open a Premier Inn and Beefeater restaurant in early 2011, creating around 70 jobs.
Jehu Project Services, on site since last summer, has a view to complete in October this year.
A 60-strong construction crew is said to be making "excellent progress" on the development, which overlooks the Prince of Wales Dock.
Jehu Project Services project manager Ken Evans said achieving watertight status was 'critical' to the overall progress. Over the next few months Jehu will focus on progressing the shell of the building to enable fitting out operations to begin.
Mr Evans said: "To the untrained eye the outside of the building may just look like a shell covered in scaffolding, but a great deal of work has gone into reaching this milestone and even more will be required to complete the project.
"Having a well-known brand such as Premier Inn establish a presence in SA1 will provide a great facility for visitors. The building will play a key role in the success of the development and help Swansea to become a top UK holiday destination. We are delighted that progress is on schedule and now that the building has been declared watertight we can move on with the next stage of the process. We are very excited to be involved with this project and look forward to completing the project on schedule."
Whitbread hotels and restaurants acquisition manager Richard Pearson said: "Swansea's SA1 quarter is an outstanding development and an ideal location for Premier Inn.
"Our new Premier Inn will also complement our existing hotel in the town centre and is an even firmer commitment to building our future in Swansea."
Tesco Express will be the fourth store of its kind in the space of three miles when it opens on 20 October.
A spokesperson for the supermarket giant said: "We are pleased to be a part of this regeneration project. It will bring hundreds of people to that area."
She defended the decision to open another Tesco store close to existing outlets and said most customers to its Express shops come from within a 500-metre radius. Adding: "People are unlikely to walk much further than that to a convenience store."
South Wales Evening Post - 19 February, 2010
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