The project is being developed by London & Quadrant – which was chosen by Southwark Council earlier this year after an 18 month tender process – and will include 260 apartments as well as a resources centre for people with sensory, neurological and physical disabilities.
The apartments are designed to achieve a Code for Sustainable Homes Level 4.
Durkan today said it would carry out the regeneration of the estate in five phases.
Stage one is valued at £7.8 million and is due to start on site later this month with a construction programme of two years. It will include the resource centre and 52 of the apartments in a six-storey complex.
The new buildings utilise a single bio mass boiler to provide heating and hot water and will be built using two methods of construction. The apartments will be built using a reinforced concrete frame while the community resource centre will use a wooden Glulam frame, which managing director Robert Clark said would improve insulation and strength.
The scheme is the first step in a multi-billion pound regeneration of Aylesbury Estate, the largest housing estate in Europe.
The £2.4 billion development will occur over the next 15 years and will result in the entire estate being demolished and replaced with almost 5,000 new homes.