The vast £3bn scheme will see one of the last derelict docklands sites in the Royal Docks regenerated by Keystone London and GLA Land and Property.
As well as high-rise homes the site which sits below the Emirates cable car system on the north bank of the Thames, will also see 18,600m² of industrial and workspace alongside 7,000m² of shops, restaurants and bars.
Masterplanned by architect Fosters + Partners, plans also include a primary school, parks, a 1km river walkway and a new DLR station to be known as Thames Wharf.
As part of the hybrid planning application detailed plans were approved for the first phase of the development, which will consist of 401 mixed-tenure homes and 35,000 sq ft of workspace. Across the whole project, 1,700 of the 5,000 homes have been designated as affordable.
Max James, CEO of Keystone London, said: “We are delighted with the go-ahead for Thameside West which will enable us to create an exceptional new neighbourhood on one of the last major riverfront locations left on the Thames.
“Working in partnership with GLAP, London Borough of Newham and the local community, we hope to start on site shortly to begin development of this key site which will inject new life into this important part of the borough.”
Established in 2017, Keystone is led by CEO Max James, the former chief executive of Quintain, and is a joint venture with Keystone Management, a Zurich-based family private equity office that invests in and develops real estate.
Thameside West will be its first major development and will be built out in 11 key phases with work on the first phase expected to start before the end of the year.