Mayor of London Boris Johnson has given the go-ahead to Farrells’ £1 billion masterplan for the 40-acre site by the river at Deptford.
The Convoys Wharf scheme, which includes 3,500 new homes, shops, restaurants and public space, was submitted to Lewisham Council in May 2013 for outline planning.
The 40-acre site has once accommodated a royal dockyard built by Henry VIII in 1514 .
In addition, it was home to the historic Sayes Court Garden and the boatyard where the Lenox warship was built.
Over the last 10 years a number of proposals to regenerate the site have been delayed before they could even be considered.
Planning approval was granted subject to a Section 106 agreement, which requires the developers to devise an alternative scheme for Sayes Court Garden, and to build a community centre with a primary school at the centre of the site.
The community centre will include such facilities as shops, restaurants, 525 affordable homes and a new riverside jetty park as part of increased area for public space.
The developer is also required to conduct a feasibility study into replicating the historic Lenox warship that was once built on the site and attempt to incorporate it into the regeneration of the site.
It has been estimated that at least 1,000 construction jobs will be created during the phase of the 4.5m sq ft scheme on the south bank of the Thames, opposite the Isle of Dogs.
It is believed that the site in Deptford, which has been disused for the past 14 years, has one of the largest potential sites for new housing in London.
The London Mayor said: “We need to build thousands of new homes in the capital and proposals to do that at Convoys Wharf have stalled for far too long.
“I am pleased that we have been able to work on a scheme that will have enormous social and economic benefits for local people while preserving the heritage aspects of the site.”
Photo Source: Construction Enquirer