Developer Hill and housing association Peabody have announced a joint regeneration project to build hundreds of homes across sites at Fish Island and Leyton.
The first homes in the £350million project are due to be completed in early 2018.
The scheme covers Peabody’s Fish Island Village development and Hill’s Lea Bridge Road scheme.
The former. a brownfield site once home to warehouses and industrial buildings overlooking the Hertford Union Canal, is due to become 434 private apartments and 146 affordable homes located around a series of piazzas and courtyards.
The development also includes 57,000sq ft of commercial space, of which 48,000sq ft will be operated by social enterprise The Trampery , which specialises in providing work spaces and venues for entrepreneurs and startups, and will incorporate studios, workshops and a gallery.
Lea Bridge Road in Leyton will see nine 18-storey blocks built, housing 300 homes including at least 62 affordable properties.
The site will also include a courtyard, 21,000sq ft of ground floor commercial space and a gym.
Peabody chief executive Stephen Howlett said: “Peabody and Hill share a common approach and long-standing commitment to providing distinctive, high-quality homes across a range of tenures.
“We are pleased to finalise this partnership agreement, which is Peabody’s first large development through a joint venture arrangement and look forward to working with Hill to create much needed homes, jobs and business opportunities in east London.
“Peabody’s new development programme constitutes almost £2billion of investment in housing, and we continue to look for opportunities that will help us to do more to tackle the capital’s growing housing crisis.”
Hill chief executive Andy Hill said: “This strategic joint venture with Peabody is a significant milestone for Hill.
“Our London presence has grown steadily over the last 15 years, but these two projects cement us a key player in city centre regeneration.
“Working with Peabody has been an ambition of ours for many years and I’m delighted these iconic schemes will be the first of, hopefully, many major projects to come.”
Sales are expected to launch at Fish Island Village in late-Spring, with the first homes likely to be complete in early 2018. The first homes at Lea Bridge Road will be complete in 2019.
Keep up to date with all our articles on Facebook