United House Developments will deliver a £300m redevelopment project including 750 new homes in east London after signing an agreement with a local housing association.
The £300m Chrisp Street regeneration project will see United House team up with Poplar HARCA.
The scheme will feature a mix of affordable and private sale housing, as well as 250,000 sq ft of retail space.
The developers hope to take advantage of the impending completion of Crossrail to create a new food shopping destination for east London.
The market is close to the Canary Wharf Crossrail station, due to be operating from 2018 and providing a link to west London and Heathrow Airport.
United House and Poplar HARCA will carry out an extensive consultation with the local community before submitting a planning application later this year.
The partnership comes after United House and Poplar HARCA formed a joint venture last month, along with property developer Londonewcastle, to regenerate the landmark Balfron Tower building.
United House Developments chief executive Rick de Blaby said: “This is an incredibly exciting regeneration.
“The combination of the site’s history, the rapidly changing nature of the area, the great things Poplar HARCA is already doing locally, the scale of the opportunity and the plans for the nearby Balfron Tower, make this a very special opportunity.
“Working with Poplar HARCA and local residents and businesses, our aim is improve the lives of local people while creating a place for visitors to continue to enjoy Chrisp Street market and the surrounding areas, making the most of the improved transport links.”
Poplar HARCA development director Neal Hunt said: “We believe in United House Developments we have selected a partner who can successfully take forward a key part of the regeneration of the Poplar area.
“As partners we can build on the current success of Chrisp Street, ensuring the local character is not lost while making the area sustainable long term.”