London Mayor Boris Johnson unveiled ambitious plans at Cannes property show Mipim as he launched an international competition to find developers to design and deliver the 15 acres of water scheme.
It has already been labelled Boris Island 2 behind his plan for a new island International airport in the Thames Estuary.
When complete it will be one and half times the size of Green Park and have some of the best transport links in the capital with a new Crossrail station, DLR and the cable car linking it to central London and Canary Wharf.
The Mayor, who inherited over 600 hectares of land as a result of the Localism Act in April 2012, is currently one of the largest owners of public land in London.
Johnson said: “This site is unique. It has the potential to become one of the most sought after addresses in the capital while breathing new life back into London’s waterways.”
