The Faircharm Quarter plans involve both the retention and refurbishment of two existing factories and construction of new flexible work and living spaces.
New blocks will range from six to 12 storeys high and include 148 flats along with commercial space.
The plans will also see parts of the Creekside opened up.
Building work is due to start by the end of the year. Furness Partnership is on board as structural consultant and Hoare Lee the M&E consultant.
Jamie Hopkins, Chief Executive Officer of Workspace said: “The Faircharm development will provide tailored space to the needs of small creative businesses, a capability which is at the heart of Workspace’s key strengths.”
Workspace made a significant financial contribution to support the business community, improve health facilities, housing and public open space and transport, and a Crossrail contribution.