Places for London has announced Ballymore as its joint venture partner in a major project which could see around 1,400 homes built on land at the Limmo Peninsula.
While an official planning application has not yet been submitted, initial proposals are for 40 per cent of the homes to be affordable housing.
A new bridge is also proposed, connecting the development site – which spans five hectares – to Canning Town.
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Place for London also hope to built a new public green space and a river walkway to connect Canning Town underground station to Thameside West in the south.
Ben Tate, head of property development at Places for London, said: “We are delighted to have reached this stage in the process for the Limmo Peninsula, bringing us a step closer to bringing this new development in the heart of east London to life.
“Ballymore shares our dedication to providing great homes for Londoners, helping to ease the housing crisis and build the homes London urgently needs.”
He added that the development will be one of the company’s “most ambitious” to date and will help to support “London’s continued growth”.
John Mulryan, group managing director at Ballymore, said: “This partnership is in line with our ambition to partner with landowners across London to deliver new neighbourhoods and communities at scale.
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“Newham is a fast growing, diverse borough – and it’s hugely important that the vision for this site reflects that character.
“We’re looking forward to collaborating closely with local residents and businesses to create opportunity, connections, and a thoughtfully designed, sustainable neighbourhood.”
The Limmo Peninsula played a major role in the building of the Elizabeth line, providing the space for the tunnelling machines to be lowered into the ground.
The Places for London development is part of a wider plan to deliver 20,000 new homes across the capital and to generate investment into London’s transport network,
