Original contractor Mid Group went into administration in 2022 while building the 55-apartment scheme.
The council then appointed Geoffrey Osborne to finish the job but they also went under in April.
Now Newbury based Feltham Construction has been drafted-in to finally finish the job.
The apartments sit opposite the Carnival Hub in which opened in the summer of 2022 and is home to Wokingham Leisure Centre and Wokingham Library.
Sarah Morgan, assistant director for commercial property at Wokingham Borough Council, said: “We welcome on board our new contractor, as we look to move ahead with Carnival Place.
“Feltham Construction has lots of experience in delivering high-quality projects, along with a strong track record for working with local authorities, and we are delighted to be working with them.
“It is always disappointing when a contractor goes into administration, but there is an inherent risk with building contracts of this type. The council undertakes thorough checks and ensures due diligence is done when appointing all contractors.”
David Yates, director at Feltham Construction, said: “We are delighted to be working with Wokingham Borough Council on the Carnival Place residential scheme to complete the last piece of the development and bring 55 high-standard, desirable apartments to completion.
“The contemporary building design continues the architectural theme of Elms Field, incorporates a full height atrium and benefits from renewable energy sources, sustainable drainage and extensive soft landscaping that will provide sustainable, energy efficient homes at the heart of the town centre regeneration.
“As a Wokingham resident for many years, it will be a pleasure to help finally complete this worthy project.”
