The deal with housing body Poplar HARCA will see building work start in March on the first 105 private sale homes in the plan to transform the Aberfeldy estate.
The multi-phase regeneration of the seven acre Aberfeldy will see 1,176 homes, shops, healthcare and community facilities created over 12 years.
During the course of the long-term project, over 1,000 construction jobs will be sustained and it’s also expected to bring 300 new jobs to the area after completion.
The work replaces dilapidated 1950s-era housing to provide a better living environment for residents, complete with new shops and open, green spaces for recreation.
Brian Brady, managing director of Willmott Dixon’s residential development business, said: “After a lot of work in the planning stage, we can now start on site and help turn what is an exciting vision into reality.”