Countryside Properties has been selected as the London Borough of Barking and Dagenham's partner for its Goresbrook Village regeneration programme.
The project will see the demolition of three 1960s tower blocks in the Dagenham neighbourhood and the construction of 149 new homes - 98 of which will be council houses. Just over a third of the new properties will be built for private sale.
The council said that almost three-quarters of the new properties would be three- and four-bedroomed houses, with the remainder two-bedroomed flats in low-rise blocks.
The new scheme has been designed by Stitch Architects & Urban Designers and Mae Architects. Work is expected to start in early 2013 and finish in March 2015.
Phil Waker, the council's cabinet member for housing, said Goresbrook Village had reached the end of its natural life.
He said: "Having appointed a developer, we should be ready to build as soon as the flats are pulled down," he said.
"The quicker we can build, the better, as local families are crying out for more new homes to be built."
Goresbrook Village achieved national fame when it featured on the Channel 4 series Tower Block of Commons in 2010.
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