Barking and Dagenham Council has submitted detailed proposals to the planning committee to start regenerating the Gascoigne estate.
The first phase of the scheme includes the building of 421 homes, a new medical centre and part of the public space. If approved, construction work could begin in 2015.
The developer, East Thames, is working with the council on the project, which is scheduled for completion by 2024 and will see 1,579 homes built on the eastern side of the estate.
The scheme also includes a 690-place primary school, a 1,850-place secondary school, a community centre, retail and office space and play areas for children.
East Thames and the council have consulted with the existing community at the estate about the development, which was designed by Levitt Bernstein and Allies and Morrison.
In other news, East Thames has appointed a new chief executive, Yvonne Arrowsmith, formerly employed as group operations director at Family Mosaic. Arrowsmith will take up the role on 1 October following the retirement of June Barnes, who spent 15 years at the helm.
East Thames also celebrated its 35th anniversary at its headquarters in Stratford recently.
The City of London Corporation is about to buy Barking Power Station site in east London for around £125 million, according to Property Week.
A £25 million grant for Barking and Dagenham Council will help it support new housebuilding over the next four years.
Councillor Darren Rodwell, the leader of Barking and Dagenham Council, has welcomed the decision to approve the proposed Beam Park…