The land near Canning Town Tube station was previously used for construction of the Elizabeth line – providing the space for the tunnelling machines to be lowered to dig the tunnels.
Places for London and Ballymore will transform the five hectares of brownfield land into a new neighbourhood containing 1,400 homes.
Ben Tate, Head of Property Development at Places for London, said: “The Limmo Peninsula development will be one of our most ambitious developments to date, showing how we can work with the private sector to benefit from the unique opportunities that our estate provides, and helps, us as part of TfL, to support London’s continued growth.
” We’re looking forward to creating a thriving and inclusive new residential neighbourhood, that is safe and child friendly, with excellent transport and active travel connections.”
John Mulryan, Group Managing Director at Ballymore, added: “We have deep roots in Newham and are truly delighted to be partnering once again with Places for London. This partnership is in line with our ambition to partner with landowners across London to deliver new neighbourhoods and communities at scale.
“Newham is a fast growing, diverse borough – and it’s hugely important that the vision for this site reflects that character. Limmo Peninsula will be a dynamic neighbourhood – where its community can thrive. We’re looking forward to collaborating closely with local residents and businesses to create opportunity, connections, and a thoughtfully designed, sustainable neighbourhood.”