A BBC Freedom of Information request found there had been at least 205 flooding incidents since 1827 – about one a year – in the area.
The cost of a project to protect the area has risen from £25m to £37m since it was approved in 2020.
It has faced opposition due to costs, visual impact and the loss of parking spaces in the area.
However, councillors voted last year by 22 votes to 21 to take it forward.
The latest stage is to carry out ground investigation work to developed the design details of the scheme.
The council said it was “inevitable” that there would be some disruption to access and parking on the riverside while the work took place.
However, it said it would be phased to ensure “minimal disruption” to businesses, residents and visitors to the area.
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