Centurion Way, which won an International Property Award (UK) for best multi-unit architecture, provides affordable housing in 87 homes.
The development, named by children from St Peter's Primary School after researching the Roman history of the site, was built for Partick Housing Association.
And it was given £7million of funding support from the Scottish Government through Glasgow City Council.
Ms Sturgeon said: "This new development of affordable, energy-efficient homes is vital for this pressured housing market area. Centurion Way is ideal for people who cannot afford their own home but do not qualify for social rented housing.
"It will be a fantastic addition to the community and I know that the new residents will enjoy living here."
Centurion Way provides three tenures for residents - 43 for social rent, 22 for shared equity sale, and 22 for mid-market rent.
It is the first mid-market rent development in Glasgow to be funded under Glasgow City Council's development programme.
The scheme is designed to provide affordable rented housing for people who cannot afford to buy or rent privately and who are unlikely to qualify for social rented housing.
Research by Glasgow City Council found that that around 10% of Glasgow households could be in this position.
Councillor Liz Cameron, Executive Member of Development and Regeneration Services at Glasgow City Council, said: "Centurion Way makes an extremely important contribution to the improvement of Glasgow's housing stock, and I am certain that it will be held up as an example of good practice for others to follow."
A play park has been built for children and the development also contains a combined heat and power system (CHP). The CHP generates electricity on site and uses the heat produced as a by-product of the generation process to reduce demand on the communal gas boilers.
This technology helps to reduce fuel poverty and CO2 emissions, resulting in energy cost savings compared to conventional systems.
Sadie Brown, 56, moved into one of the flats for social rent.
Sadie has been a tenant with the association since 1978 and previously lived in a flat in Gardner Street.
After receiving treatment for bowel cancer, she found climbing the stairs of her building too difficult and was moved to a first-floor flat which she can access by lift.
Sadie is one of five tenants the association has moved into Centurion Way in order for them to live in smaller accommodation after being affected by the so-called "Bedroom Tax".
She moved from a three-bedroom flat to a two-bedroom flat after staff at the association helped her to successfully apply for a concession as she requires the second room for a carer to stay.
She said: "I love living here and my grandchildren enjoy visiting me - there's even a play park which they can use. It's in the heart of the West End and Partick is only a short walking distance.
"It's nice and peaceful here and the flat is of a really high standard. Being able to use the lift to my flat has made a real difference. It's the best move I've ever made."
Alastair Firth, chairman of Partick Housing Association, added: "Our vision at Partick Housing Association is to be close to the community - working in partnership to deliver high quality homes and services.
"Centurion Way has been transformed from an old railway siding into a high amenity area and will provide people with a variety of options for good quality, affordable and energy efficient housing."
Gary Climson, Director at McTaggart Construction, said: "We are delighted to have worked with Partick Housing Association to deliver this project.
"The combination of tenure types on the development and the provision of the CHP make it a truly unique project which we are pleased to have been involved with."