The London Borough of Bexley has granted planning permission for 1,500 homes in Thamesmead, which forms part of the Abbey Wood and South Thamesmead Housing Zone.
The development will be delivered by Peabody housing association. It acquired the land in 2014.
The first phase of these developments will be Southmere Village, which is set to comprise 525 homes – 230 designated as affordable, a new library and nearly 40,000 square feet of commercial space for cafes, retail businesses and local enterprises.
Plans for futures phases will see about 1,000 homes built at Binsey Walk, Coralline Walk and Sedgemere Road, which will be linked by a new pedestrian and cycling route between Abbey Wood railway station and Southmere Lake.
These phases also include commercial and community spaces.
The project will be built in four phases, with Southmere Village due to start in 2017. It is expected that the final phase will be completed in 2024.
John Lewis, executive director for Thamesmead, Peabody, said: “As well as creating much-needed, quality new homes, the development will create thousands of new jobs and will attract new businesses too.
“This is just the start of our commitment to Thamesmead and its residents at what is a really exciting time, with the Elizabeth Line opening at Abbey Wood station in December 2018 and the DLR extending to Thamesmead in the next 10 years.
“Thamesmead will be better connected, opening up new opportunities to residents and to businesses looking to invest. We hope this will be the catalyst for Thamesmead fulfilling its promise as London’s new town.”
Teresa O’Neill OBE, leader of the London Borough of Bexley, added: “We know that London faces significant housing pressures and are committed to being part of a future that makes quality places where people choose to live and work.”
The developments are part of the Abbey Wood and South Thamesmead Housing Zone. This is one of two housing zones being delivered by Peabody in Thamesmead, with a £47.5 million investment from the Greater London Authority.
The housing zones are being led by the London Borough of Bexley and the Royal Borough of Greenwich.
