The group, which is part of the regeneration body East Thames, got planning approval for the building last week.
It will have 116 flats, including 12 for young parents and their children, 18 for young people with particular needs, four for young people with disabilities, and six for emergency use.
The foyer will also provide support, such as personal development, to help young residents move into employment or training. The support service will also be available to other young people from the area.
The foyer will be in Barking town centre with a nine-storey residential wing and 1,000 square metres of office space, which will be leased to support agencies that could help foyer residents.
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