Scheme will include rebuilding or refurbishing 13 schools and building a library, theatre and youth facilities
The QED Wates consortium has beat rival Bouygues to secure Luton council's £270m Building Schools for the Future (BSF) scheme.
The four-year first phase of Luton's BSF programme will involve rebuilding or refurbishing all of Luton's 13 secondary schools.
The deal commits QED to creating 138 apprenticeships as well as using local labour, suppliers and subcontractors.
The scheme also includes a community library, community theatre, and adult education and youth facilities.
Paul Drechsler, Wates' chairman and chief executive, said: “QED Wates will bring opportunities for employment, training, education and help Luton's local companies to grow their business on the foundation of Luton BSF programme.”