The Carpenters Estate project will see 2,300 new and refurbished homes created on the over the next 12 years, with 50 per cent to be ‘affordable’ for social rent.
The first phase of the project includes the retrofit of James Riley Point, a 23-storey tower built in the 1960s.
A new multifunctional sports and community centre will also be created in this phase.
The council’s wholly owned housing company, Populo Living, has been commissioned to take forward the design of the first three phases.
Mayor of Newham, Rokhsana Fiaz, said: “The start on site of works at James Riley Point on Carpenters Estate is hugely significant and represents another milestone in the delivery of homes that our people can afford here in Newham.
“Our Carpenters Estate restoration and regeneration scheme is amongst the largest in the UK and is significant as it shows how Newham is growing London.
“The 28 acre estate site owned by the council will be transformed into a new neighbourhood by the Queen Elizabeth Olympic Park and one of the UK’s busiest transport hubs at Stratford.
“I’m so pleased that finally, after waiting for change to begin, residents will see positive change happening.
“The start on James Riley Point’s retrofit scheme is proof that change can be delivered sustainably, as we build new homes that our people can afford, with new community facilities.”
The overall scheme will also introduce 29,000sqm of non-residential space, including a new school, parks, commercial space, sports and community facilities.
Nick Clough, Carpenters project director at Populo Living, said: “It is so exciting for both ourselves and residents to see the start of development works on the Carpenters Estate, kicking off with our innovative tower retrofit.
“The plans for James Riley Point are a reflection of Newham’s attitude towards better regeneration.”
