Outline planning consent has been granted to the Barrier Park East development of 750 homes in the London Borough of Newham.
The East London site near the Thames Barrier would be developed by Barratt Homes and Taylor Wimpey, who worked with architects Allies and Morrison on the project.
It would include 370 affordable homes and 130 family homes as well as commercial and retail space and public open space. Built to high environmental standards, all homes would reach level 4 of the Code for Sustainable Homes.
London Development Agency chief executive Peter Rogers said: “Thames Gateway holds the key to London’s future success.
“Barrier Park East is part of the drive to build new, environmentally-friendly homes that Londoners need. We look forward to seeing a vibrant, sustainable community thrive on this former industrial site.”
It is hoped a Section 106 Agreement will be agreed later this year. Construction - expected to take five years - could start by the end of 2009.