Countryside Properties has got the green light for the first phase of the £3.7bn Canning Town and Custom House regeneration project.
The go-ahead could unlock plans for development at ‘area 7’, in the centre of Canning Town.
Countryside’s scheme will include 422 homes designed for private sale and 227 for affordable housing.
The project includes an apartment building designed by architects Maccreanor Lavington.
Countryside won planning from Newham Borough Council for the plans, which also include the reconstruction of the Keir Hardie Primary School for £7.3m.
The plans also include setting up a sustainable management company to involve residents in the development, following extensive consultation.
Countryside has been a member of the development panel for Canning Town’s regeneration since the panel’s creation in 2005.
The panel is overseeing the £3.7bn plans for the area.
Lend Lease and Taylor Wimpey pulled out of the regeneration project last year but a number of other parties – including Countryside, which was originally on the panel, as well as companies including Bouygues and the E-Central consortium, led by Chelsfield Partners and First Base - are thought to be keen to pursue development opportunities at Canning Town.
Tony Travers, Subsidiary Managing Director of Countryside Properties said: 'We have spent a great deal of time preparing the site to ensure that we can progress as quickly as possible once we have full agreement on all the details of our planning application.
'Canning Town and Custom House badly needs new housing and we have worked closely with our partners and the local community to create plans that will provide homes and community facilities that are appropriate and well designed.'