The Guinness Trust has chosen Countryside Properties as its partner for a £105m regeneration scheme in South London.
Countryside will work with the trust to redevelop the 1930s Loughborough Park in Lambeth.
The pair plan to replace the 390 existing homes with 530 new homes and community facilities, and are consulting with existing residents.
Richard Cherry , deputy chairman of Countryside Properties, said the project would make a contribution to the wider regeneration of the area.
Work is scheduled to start in 2010, subject to planning.